NB Private Equity Partners Limited : Monthly NAV - April 2017
08 June 2017 - 4:00PM
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 April 2017
8 June 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 30 April 2017.
Key
Highlights
|
Month |
30 April 17
YTD |
30 April 17
LTM |
Total
return NAV development
per Share[1]
|
0.2% |
1.9% |
17.8% |
NAV
development per Share |
0.2% |
0.2% |
13.9% |
Portfolio
Valuation
The value of NBPE's private equity
portfolio as of 30 April 2017 was based on the following
information[2]:
-
40% of the private equity fair value was valued
as of 30 April 2017
-
59% of the private equity fair value was valued
as of 31 March 2017
-
1% of the private equity fair value was valued
as of 31 December 2016
Portfolio
Commentary
During April, NBPE funded $31.9
million to new investments, including $31.1 million to four new
direct equity co-investments. NBPE invested in Accedian, a network
technology company; Compliance Solutions Strategies, a provider of
compliance solutions to the financial services sector; Material
Handling Systems, an infrastructure and automation outsourcing
company; and Wind River Environmental, a provider of waste
management services. NBPE also funded $0.7 million to one new
credit opportunities investment and $0.1 million of follow-ons to
fund investments. In terms of distributions, NBPE received $10.5
million during April, largely driven by the principal repayment of
NBPE's second lien investment in Flexera Software and cash interest
received from income investments. NBPE also received $2.4 million
of distributions from fund investments.
Subsequent to this reporting
period, on 2 May 2017, NBPE's Class A Shares were admitted to
trading on the Premium Segment of the Main Market of the London
Stock Exchange and on 31 May 2017 the 2017 ZDP shares were redeemed
in full. In addition, it was announced in May that Patheon would be
acquired by Thermo Fisher (subject to certain closing conditions)
and Gardner Denver successfully completed an IPO on the New York
Stock Exchange.
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 more than approximately 1,900 professionals, as of
May 1, 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 $267
billion in client assets as of March 31, 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 March 2017 and 31
December 2016, the Manager's analysis and historical experience
lead the Manager to believe that this approximates fair value at 30
April 2017.
April 2017 NAV
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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