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20 Sep 2023 07:00
NBPE Announces Appointment of a New Non-Executive DirectorTHE 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
20 September 2023
The Board of NB Private Equity Partners Limited (the “Company” or “NBPE”) is pleased to announce that Pawan Dhir has been appointed as an independent non-executive Director of the Company with effect from 19 September 2023.
Mr Dhir brings over three decades of global experience in finance in private equity, as well as the wider asset and wealth management sectors. He has held a number of leadership positions in finance, audit, risk management and valuations, including specialising in the valuation of unquoted shares and securities.
Mr Dhir worked for UBS for nearly 25 years, where he was latterly Managing Director and Global Head of Financial Accounting & Controlling, and was previously at Morgan Stanley. He is a Fellow of the Institute of Chartered Accountants in England and Wales, having qualified with Coopers & Lybrand. Mr Dhir graduated from the University of Manchester with a BSc in Physics. He is a non-executive Director and Audit Chair at the Royal Free London NHS Foundation Trust and holds a number of Board Trustee positions in the educational sector.
This appointment follows the Board’s decision to increase the size of the Board temporarily from five to six as part of its succession planning. In particular, the appointment fulfills the Board’s objective of recruiting early for the succession of the current Audit Chair, John Falla, who is due to retire at the 2025 AGM.
Mr Dhir has been appointed to the Audit Committee, Management Engagement Committee and the Nomination & Remuneration Committee. All appointments are effective from 19 September.
William Maltby, Chairman of NB Private Equity Partners Limited, said: “We are delighted to welcome Pav to the the Board. He brings a depth and breadth of knowledge in finance, audit and risk management which is highly complementary to the skills and expertise of the Board. We look forward to working closely with Pav over the coming years.”
Pav Dhir said: “Private equity is a fast-growing asset class and NBPE has an attractive, strong track record of returns, leveraging its unique co-investment model. I look forward to working with my new colleagues on the Board and being part of NBPE’s ongoing growth and value creation as NBPE engages with a wider range of investors."
This announcement is made In accordance with Listing Rule 9.6.11. Additionally, it is noted there are no further disclosures required for Mr Dhir in respect of paragraphs 9.6.13 of the Financial Conduct Authority's Listing Rules.
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
Kaso Legg Communications +44 (0)20 3995 6673
Charles Gorman nbpe@kl-communications.com
Luke Dampier
Charlotte Francis
About NB Private Equity Partners Limited
NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.
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, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. Neuberger Berman’s investment philosophy is founded on active management, engaged ownership and fundamental research, including industry-leading research into material environmental, social and governance factors. Neuberger Berman is a PRI Leader, a designation awarded to fewer than 1% of investment firms. With offices in 26 countries, the firm’s diverse team has over 2,750 professionals. For nine consecutive years, Neuberger Berman 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). The firm manages $443 billion in client assets as of June 30, 2023. 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. 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. |