NB Private Equity announces new USD120 million buyback allocation

(Alliance News) - NB Private Equity Partners Ltd on Monday said it has allocated an additional USD120 million to share buybacks over the next two years.

The Guernsey-based private equity investor said the extra USD120 million brings the total amount allocated to its buyback programme since the start of 2025 to USD240 million.

"We believe the share price continues to undervalue the portfolio and represents a compelling investment that, at the current discount, is highly accretive," Chair William Maltby commented. "Our accelerated buyback programme continues at pace with USD88 million deployed since the beginning of 2025."

NBPE, which is managed by Neuberger Berman Group LLC, said it has returned USD152 million to shareholders since the beginning of 2025. This represents over 60% of the proceeds received from its portfolio, it added.

The firm said it has deployed USD88 million of capital into accretive buybacks, and has committed USD104 million to six new investments so far this year.

"While the investment level is expected to fluctuate depending on the timing of the realisations, the board currently expects it to be between 110% - 120% in the short to medium term, as the company takes advantage of an attractive pipeline of co-investment opportunities and accretive share buybacks," NBPE added.

Maltby said that four of the "highly attractive" new investees "are mid-life co-investments which we believe presents a significant long-term opportunity."

He continued: "Our 2024 and 2025 vintage investments continue to perform well, delivering a 20% IRR to date and underscoring the importance of refreshing the portfolio, which will be the key driver of medium- to long-term NAV growth."

Maltby added that addressing the share price discount to NAV "remains a priority for the board and Neuberger."

NBPE said its liquidity totalled USD190 million, comprising USD10 million of cash and USD180 million of undrawn credit facility, as of May 29.

NB Private Equity shares traded 1.0% higher at 1,452.90 pence on Monday in London.

By Emma Curzon, Alliance News reporter

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