NB Private Equity Partners Limited Announces Monthly Net Asset Value Update for August 2017
September 28 2017 - 2:00AM
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 August 2017
28 September 2017
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 August 2017.
Key
Highlights
|
Month |
31 Aug-17
YTD |
31 Aug-17
LTM |
Total
return NAV development
per Share[1]
|
0.5% |
5.8% |
16.0% |
NAV
development per Share |
0.5% |
2.6% |
12.4% |
Portfolio
Valuation
The value of NBPE's private equity
portfolio as of 31 August 2017 was based on the following
information[2]:
-
30% of the private equity fair value was valued
as of 31 August 2017
-
1% of the private equity fair value was valued
as of 31 July 2017
-
69% of the private equity fair value was valued
as of 30 June 2017
Portfolio
Commentary
During August, NBPE funded new
investments in the debt and equity of OB Hospitalist, a healthcare
service provider. NBPE also funded its previously announced
investment in ByLight, a provider of IT cyber solutions.
In terms of distributions, NBPE
received $26.8 million from equity co-investments, of which $24.6
million was received as a result of the sale of Ortholite and
Patheon; additional Patheon proceeds were received subsequent to
this reporting period. In addition, NBPE received $2.3 million of
distributions from partial equity co-investment realisations,
including $1.7 million from Black Knight Financial Services (NYSE:
BKFS) and The Warranty Group. Income investments distributed $1.9
million of principal and interest to NBPE during August.
On 31 August 2017, NBPE paid the
second 2017 semi-annual dividend of $0.25 (£0.19) per Share, for a
total 2017 dividend payment of $0.50 (£0.39) per Share.
For further
information, please contact:
NBPE Investor
Relations +1
214 647 9593
Neustria
Partners
+44 20 3021 2580
Nick Henderson
Nick.Henderson@neustriapartners.com
Robert Bailhache
Robert.Bailhache@neustriapartners.com
Charles Gorman
Charles.Gorman@neustriapartners.com
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
Premium Segment of the Main Market of the London Stock Exchange.
NBPE has 2022 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.
ABOUT NEUBERGER
BERMAN
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages equities, fixed
income, private equity and hedge fund portfolios for institutions
and advisors worldwide. With offices in 19 countries, Neuberger
Berman's team is approximately 1,900 professionals, as of June 30,
2017. The company was named the #1 firm in Pensions &
Investments 2016 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 $271
billion in client assets as of June 30, 2017. For more information,
please visit our website at www.nb.com.
[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 policy.
While some valuation data is as of 31 July 2017 and 30
June 2017, the Manager's analysis and historical experience lead
the Manager to believe that this approximates fair value at 31
August 2017.
NBPE August Monthly
Update
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: NB Private Equity Partners Limited via
Globenewswire
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