12 January 2015
NB Private Equity Partners Limited ("NBPE" or the "Company"), a closed-end private equity investment company, today announced an updated Net Asset Value ("NAV").
Key Highlights
| 30 November 2014 | 31 December 2014 | % Change in NAV | |
| Unaudited estimated NAV per share | $13.78 | $13.95 | 1.2% |
| Unaudited Total Return per share* | $14.64 | $14.81 | 1.2% |
| |
| Year to Date | Last Twelve Months | |
| NAV per share % change | 8.9% | 8.9% |
| Total Return per share % change* | 13.9% | 13.9% |
* Assumes reinvestment of dividends and reflects cumulative returns over time period shown.
NBPE's NAV increased by $8.2 million during the month, including:
- $4.4 million of unrealized gains attributable to the receipt of new valuation information or recent valuation event
- $2.7 million of unrealized gains on public securities
- $2.5 million of accrued cash and PIK interest from the income investment portfolio
- $1.4 million of net losses from other realized gains, investment income, and expenses
There were no shares repurchased during the month of December.
Portfolio Valuation
The value of NBPE's private equity portfolio as presented in the December 2014 monthly report was based on the following information:
- 52% of the private equity fair value was valued as of 31 December 2014
- 40% in private direct investments based on 31 December 2014 valuation information
- 9% in public securities
- 3% in credit-related fund investments
-
- 1% of the private equity fair value was valued as of 31 October 2014
- 1% in private direct investments based on 31 October 2014 valuation information
-
- 47% of the private equity fair value was valued as of 30 September 2014
- 25% in private direct investments based on Q3 2014 valuation information
-
22% in fund investments based on Q3 2014 valuation information
Please refer to the valuation methodology section of the monthly report for a description of our valuation policy. While some valuation data is as of 30 September and 31 October 2014, our analysis and historical experience lead us to believe that this approximates fair value at 31 December 2014.
During the month of December, NBPE's aggregate trading volume on Euronext Amsterdam, the London Stock Exchange, and over-the-counter trading platforms was 840,014 Class A ordinary shares, which represents an average daily trading volume of approximately 40,001 Class A ordinary shares.
NBPE expects to continue to provide regular NAV updates within seven business days of each month's end. A breakdown of NBPE's NAV can be obtained in the December 2014 monthly report, which is published on NBPE's website at www.nbprivateequitypartners.com. The monthly report should be read in conjunction with this announcement.
NBPE expects to issue its 2014 annual financial report in March. The annual financial report will include audited financial information prepared in accordance with accounting principles generally accepted in the United States. NBPE is required to consider, and will consider, all known material information in preparing such annual financial report, including information that may become known subsequent to the issuance of this monthly report. Accordingly, amounts included in the annual financial report may differ from this monthly report.
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
FTI Consulting +44 20 3727 1046/1160
Edward Berry
Laura Ewart
ABOUT NB PRIVATE EQUITY PARTNERS LIMITED
NBPE is a closed-end private equity investment company with class A ordinary shares admitted to trading on Euronext Amsterdam and the Specialist Fund Market of the London Stock Exchange. NBPE has ZDP shares admitted to trading on the Specialist Fund Market of the London Stock Exchange and the Daily Official List of The Channel Islands Securities Exchange Authority Limited. NBPE holds a diversified portfolio of direct income investments, equity 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.
ABOUT NEUBERGER BERMAN
Neuberger Berman is a 75-year-old private, independent, employee-controlled investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 17 countries, Neuberger Berman's team is more than 2,000 professionals and the company was named by Pensions & Investments as a 2014 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $247 billion in client assets as of September 30, 2014. For more information, please visit our website at www.nb.com.
