20 Dec 2018 07:00
Monthly NAV Update for November 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 November 2018
20 December 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 30 November 2018.
Key Highlights
Monthly and annual NAV development:| (Returns in $USD) | Month | 30 Nov-18 YTD | 30 Nov-18 LTM | |||
| Total return NAV developmentper Share1 | (1.1 | %) | 5.5 | % | 9.1 | % |
| NAV development per Share | (1.1 | %) | 2.4 | % | 5.9 | % |
Portfolio Valuation
The value of NBPE’s private equity portfolio as of 30 November 2018 was based on the following information2:
21% of the private equity fair value was valued as of 30 November 2018 12% in private direct investments8% in public securities1% in credit-related fund investments 1% of the private equity fair value was valued as of 31 October 2018 1% in private direct investments 78% of the private equity fair value was valued as of 30 September 2018 73% in private direct investments5% in fund investmentsPortfolio Commentary
During November, NBPE funded a total of $12.4 million to direct equity investments, including a new investment in BK China, the exclusive master franchiser for Burger King in mainland China, and additional investments in Verifone, NextLevel and Marquee Brands.
In terms of distributions, NBPE received $5.5 million from direct equity investments as a result of the partial sale of public shares of Gardner Denver (NYSE: GDI) and a partial realisation of Staples. Income investments distributed $5.2 million consisting of proceeds received from the NB Credit Opportunities Program, principal repayments and interest receipts. Fund investments distributed $1.4 million during November. Year to date, fund investments have continued to generate strong liquidity and have distributed $40.1 million, or approximately 37% of the beginning of the year fund investment fair value.
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 31 October and 30 September 2018, the Manager’s analysis and historical experience lead the Manager to believe that this approximates fair value at 30 November 2018.
Attachment
NBPE November Monthly 2018
Nb Priv. Eqty (NBPE)