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NB Private Equity Partners is an Investment Trust

To produce attractive returns by investing in the debt and equity of private equity-backed companies while managing investment risk through diversification across asset class, vintage year, geography, industry and sponsor.

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Monthly NAV Update for October 2018

19 Nov 2018 07:00



Monthly NAV Update for October 2018

THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

NB Private Equity Partners Announces Monthly NAV Update for October 2018

19 November 2018

NB Private Equity Partners Limited (“NBPE” or the “Company”), a closed-end private equity investment company, today announced an updated Net Asset Value (“NAV”) for the month ended 31 October 2018.

Key Highlights

Monthly and annual NAV development:
(Returns in $USD)Month31 Oct-18 YTD31 Oct-18 LTM
Total return NAV developmentper Share1 (1.1%)3.2%6.9%
NAV development per Share(1.1%)0.1%3.7%
31 October 2018 NAV per Share of $17.47 (£13.68) decreased $0.20 (£0.12) from $17.67 (£13.56) NAV per Share at 30 September 2018 NBPE’s NAV decrease of $9.6 million during the month of October included: $1.7 million of unrealised gains attributable to the receipt of new valuation information, or $0.03 per share$10.9 million of other unrealised losses, or $0.22 per share, attributable to losses from public securities, realisation adjustments and mark-to-market adjustments$1.2 million of accrued cash and PIK interest from the income investment portfolio, or $0.02 per share$1.5 million decrease in NAV attributable to value changes to other assets and liabilities during the month

Portfolio Valuation

The value of NBPE’s private equity portfolio as of 31 October 2018 was based on the following information2:

22% of the private equity fair value was valued as of 31 October 2018 13% in private direct investments8% in public securities1% in credit-related fund investments 22% of the private equity fair value was valued as of 30 September 2018 22% in private direct investments 4% of the private equity fair value was valued as of 31 August 2018 4% in private direct investments 52% of the private equity fair value was valued as of 30 June 2018 47% in private direct investments5% in fund investments

Portfolio Commentary

During October, NBPE funded $16.3 million to a new equity investment in Holley Performance Products, an automotive performance company, and a significant follow-on investment in Bomgar, a remote access technology company.

In terms of realisations, NBPE received $9.0 million from direct equity investments, of which $4.0 million was received from Staples as a result of a partial realisation and $5.0 million was received from Aster DM Healthcare (NSE: ASTERDM) and Assurant (NYSE: AIZ) as a result of partial sales of public stock. NBPE also received $2.4 million as a result of a full realisation of one income investment and $1.9 million from interest and principal receipts. Fund investments produced strong liquidity during the month, with $6.4 million of distributions received.

For further information, please contact:

NBPE Investor Relations +1 214 647 9593

Kaso Legg Communications +44 (0)20 3137 7823Charles Gorman nbpe@kl-communications.com

ABOUT NB PRIVATE EQUITY PARTNERS LIMITEDNBPE is a closed-end private equity investment company with class A ordinary shares admitted to trading on the Premium Segment of the Main Market of the London Stock Exchange and Euronext Amsterdam. NBPE has 2022 and 2024 ZDP Shares admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange. NBPE holds a diversified portfolio of direct equity investments, direct income investments and fund investments selected by the NB Alternatives group of Neuberger Berman, diversified across private equity asset class, geography, industry, vintage year, and sponsor.

LEI number: 213800UJH93NH8IOFQ77

ABOUT NEUBERGER BERMAN

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 20 countries, Neuberger Berman’s team is more than 2,000 professionals. For four consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $315 billion in client assets as of September 30, 2018. For more information, please visit our website at www.nb.com.

This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission and the States of Guernsey Policy Council. NBPE is registered with the Dutch Authority for the Financial Markets as a collective investment scheme which may offer participations in The Netherlands pursuant to article 2:66 of the Financial Markets Supervision Act (Wet op het financial toezicht). All investments are subject to risk. Past performance is no guarantee of future returns. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE's investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains "forward-looking statements." Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements


1 Assumes reinvestment of dividends on the ex-dividend date and reflects cumulative returns over time period shown.

2 Please refer to the valuation methodology section of the monthly report for a description of the Manager’s valuation methodology. While some valuation data is as of 30 September 2018, 31 August 2018 and 30 June 2018, the Manager’s analysis and historical experience lead the Manager to believe that this approximates fair value at 31 October 2018.


Attachment




NBPE October Monthly 2018



Date   Source Headline
20th Mar 20247:00 amGNWNBPE Announces February Monthly NAV Estimate
18th Mar 202412:05 pmEQSQ&A on NB Private Equity Partners (NBPE): Offsetting higher interest rates, leaving return targets unchanged
7th Mar 202412:37 pmEQSHardman & Co Research on NB Private Equity Partners (NBPE): Value creation in a higher-rate environment
6th Mar 20247:00 amGNWNB Private Equity Partners Limited: Director/PDMR Shareholding
1st Mar 20247:00 amGNWNB Private Equity Partners Limited: Total Voting Rights
22nd Feb 20247:00 amGNWNBPE Announces January Monthly NAV Estimate
13th Feb 20246:13 pmGNWNB Private Equity Partners Limited: Correction of Director/PDMR Shareholding
12th Feb 20245:22 pmGNWNB Private Equity Partners Limited: Director/PDMR Shareholding
5th Feb 20247:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
2nd Feb 20247:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
1st Feb 20247:01 amGNWNB Private Equity Partners Limited Total Voting Rights
1st Feb 20247:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
19th Jan 20247:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
17th Jan 20247:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
16th Jan 20247:00 amGNWNBPE Announces December Monthly NAV Estimate
11th Jan 20247:00 amGNWNBPE Announces 1H 2024 Dividend
18th Dec 20237:00 amGNWNBPE Announces November 2023 NAV Estimate
23rd Nov 20237:00 amGNWNBPE Announces October 2023 NAV Estimate
20th Nov 20237:00 amRNSKepler Trust Intelligence: New Research
14th Nov 202312:40 pmEQSHardman & Co: Q&A on NB Private Equity Partners (NBPE): How NBPE benefits from value creation through growing companies
23rd Oct 20231:30 pmEQSHardman & Co Research on NB Private Equity Partners (NBPE) 2023 CMD: value creation from growing companies
19th Oct 20237:00 amGNWNBPE Announces September 2023 NAV Estimate
16th Oct 202311:57 amEQSHardman & Co Research | Q&A on NB Private Equity Partners (NBPE): Continued growth reported in 1H’23 results
3rd Oct 20231:30 pmEQSHardman & Co Research on NB Private Equity Partners (NBPE) 1H’23 results summary: continued growth
26th Sep 20237:00 amGNWNBPE Interim Results and 31 August 2023 NAV Estimate
20th Sep 20237:00 amGNWNBPE Announces Appointment of a New Non-Executive Director
12th Sep 20237:00 amGNWNBPE Announces 2023 Capital Markets Day
8th Sep 20234:20 pmGNWNB Private Equity Partners Limited: Director/PDMR Shareholding
23rd Aug 20237:00 amGNWNBPE Announces 31 July 2023 NAV Update
1st Aug 20237:00 amGNWNB Private Equity Partners Limited: Total Voting Rights
18th Jul 20237:00 amGNWNBPE Announces 30 June 2023 NAV Update
12th Jul 20237:01 amEQSHardman & Co Research | Q&A on NB Private Equity Partners (NBPE): PE co-investment niche to generate superior returns
11th Jul 20237:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
7th Jul 20237:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
4th Jul 20237:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
3rd Jul 20237:00 amGNWNB Private Equity Partners Limited: Total Voting Rights
30th Jun 20237:42 amGNWNB Private Equity Partners Announces Transaction in Own Shares
27th Jun 20237:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
26th Jun 20237:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
22nd Jun 20231:03 pmGNWNB Private Equity Partners Limited: Total Voting Rights Correction
16th Jun 202311:55 amEQSHardman & Co Initiation of coverage on NB Private Equity Partners (NBPE): Co-investments generating superior performance
16th Jun 20237:00 amGNWNB Private Equity: 2H 2023 Dividend of $0.47 per Share
15th Jun 20234:54 pmGNWNB Private Equity Partners Announces Results of Annual General Meeting
13th Jun 20237:00 amGNWNBPE Announces 31 May 2023 NAV Update
7th Jun 20237:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
6th Jun 20237:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
5th Jun 20237:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
2nd Jun 20237:00 amRNSKepler Trust Intelligence: New Research
2nd Jun 20237:00 amGNWNB Private Equity Partners Announces Transaction in Own Shares
26th May 20237:00 amGNWNBPE Announces 30 April 2023 NAV Update

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