NB Private Equity Partners Limited 30 September 2018 Quarterly Report
December 10 2018 - 2:00AM
UK Regulatory
TIDMNBPE
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 Publishes 30 September 2018 Quarterly Report
10 December 2018
NB Private Equity Partners Limited ("NBPE" or the "Company"), a
closed-end private equity investment company, today releases its 30
September 2018 Quarterly Report. Key highlights and commentary are below
and the complete Quarterly Report can be found on the Company's website
at www.nbprivateequitypartners.com.
Key Highlights
-- 30 September 2018 Net Asset Value ("NAV") per Share of $18.27 (GBP14.02)
increased $0.82 (GBP1.11) from $17.45 (GBP12.91) NAV per Share at 31
December 2017
-- NAV per Share total return of 7.9%
-- NAV per Share of $18.27 is a $0.60 increase relative to the originally
published 30 September 2018 monthly NAV estimate of $17.67
-- NAV per Share increase was driven by realised gains, income and dividends
and offset by expenses
-- NBPE's NAV increase of $40.2 million during 2018 included:
-- $67.4 million of realised gains, or $1.38 per Share, net of tax expense
-- $13.1 million of yield income and dividends, or $0.27 per Share
-- $11.2 million of unrealised gains, or $0.23 per Share, net of tax expense
-- ($0.1) million of losses on foreign exchange related to ZDPs and
investments, or ($0.00) per Share
-- ($7.0) million of interest and other financing costs, or ($0.14) per
Share
-- ($18.5) million of management fees, operating expenses, and other
expenses, or ($0.38) per Share
-- ($25.9) million of dividends paid, or ($0.53) per Share
-- Including the updated private valuation information, 31 October 2018
Re-stated NAV per share is $18.05, which is an increase of $0.58 per
Share from the original estimate of $17.47
-- NAV development during 2018 has been as follows:
30 September 30 September
(Returns in $USD) Month 2018 YTD 2018 LTM
Total return NAV
development per
Share(1) 3.0% 7.9% 12.3%
NAV development
per Share 3.0% 4.7% 9.0%
Portfolio Commentary
-- Strong cash flow: $180.3 million of realisations received during the
first nine months of 2018
-- 2018 Realisations: NBPE fully exited five direct equity investments which
generated a 1.9x gross multiple in aggregate (inclusive of prior
realisations)
-- IPO Activity: three IPOs in the direct equity portfolio during the first
nine months of 2018
-- New investments: 21 new direct equity investments completed in the first
nine months of 2018 totalling $114.7 million
Portfolio Valuation
The value of NBPE's private equity portfolio as at 30 September 2018 was
based on the following information(2) :
-- 100% of the private equity fair value was valued as of 30 September 2018
-- 90% in private direct investments and fund investments
-- 9% in public securities
-- 1% in credit-related fund investments
Investor Call
NB Private Equity Partners Limited ("NBPE" or the "Company") today
announced that an investor conference call will be held on Wednesday 12
December 2018 in order to discuss the Company's recent financial
performance and Company developments.
The conference call will take place at 14.00 GMT / 15.00 CET / 9.00 EST
and can be accessed by dialing +1-866-453-9043 (U.S.) or +1-706-643-0379
(International) with the access code 9894405. Please ask for "the NBPE
investor call."
A playback facility will be available two hours after the conference
call concludes. This facility can be accessed for the following two
weeks by dialing +1-855-859-2056 (U.S.) or +1-404-537-3406
(International). The code to access the playback facility is 9894405. A
recording of the investor call will also be available on NBPE's website
within several days after the call.
An updated investor presentation will be available prior to the call on
NBPE's website at
https://www.globenewswire.com/Tracker?data=Lmi94GCb6l_UU4IP8QBfpIasbvcmSXWXKeLdzu3hyf1lfeWQeL9uA_hqb43ob5eIAioR0d-ok84gDW1_nJSjNPoTFPiFORHy5ShmpkB-HzFYddXcf4Sc0aSrgecpE27HxC1ZW9exytQ0EMCeQn46jA==
http://www.nbprivateequitypartners.com/
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
Kaso Legg Communications +44 (0)20 3137 7823
Charles Gorman
https://www.globenewswire.com/Tracker?data=uroCymoPYw0gLQQTCnxbfVhA76wQ7J4Hj5snPLXSJ_UppfNVaZTtPJPGbnGWdaM7sEu5cxb26kICNG9mz2FRbY62pldIChyN7WwVXavT_0uHApDlvDN8sN6WiWbrkkhk
nbpe@kl-communications.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 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
https://www.globenewswire.com/Tracker?data=JVuwYhxlkUm3Pa7P7HA71qFOANfrB-FRxZ5VbcSyFgkBNcCsWINq4jh00QuifkH56xlTAW9R13To9Lr6Oj227w==
www.nb.com.
This statement is made pursuant to article 5:25e of the Dutch Financial
Supervision Act (Wet op het financieel toezicht) which requirement stems
from the EU Transparency Directive. Pursuant to article 5:25e and
article 5:25m of the Dutch Financial Supervision Act this Interim
Management Statement has been made generally available by means of a
press release and by publication on NBPE's website (
https://www.globenewswire.com/Tracker?data=JVuwYhxlkUm3Pa7P7HA71hfnW0pvXaM8-WwIHi9Y5_Q9lZJgs1LZRwZlvDqhhJpdgzzuIN4E0K-KSzpLvfpF7eb7ZSlqHkYBCSLmm9hggOTH2gCzqOxbtJMPcFpDXjZ8
www.nbprivateequitypartners.com) and has been filed with the Netherlands
Authority for the Financial Markets (Autoriteit Financiële
Markten).
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 Quarterly
Report.
Attachment
-- NBPE Q3 2018 Quarterly Report
https://ml-eu.globenewswire.com/Resource/Download/2780f4bb-9600-47af-a7dc-c4a6a263078b
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December 10, 2018 02:00 ET (07:00 GMT)
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