NB Private Equity Partners Limited Nbpe Monthly Nav June 2017
27 July 2017 - 4:00PM
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 Announces Monthly NAV Update for June 2017
27 July 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 June 2017.
Key Highlights
-- Monthly and annual NAV development:
30 Jun-17 30 Jun-17
Month YTD LTM
Total return NAV development
per Share([1] #_ftn1) 1.0% 2.9% 14.0%
NAV development per Share 1.0% 1.2% 10.2%
-- 30 June 2017 NAV per Share of $16.10 (GBP12.36) increased $0.06
(-GBP0.08) from $16.04 (GBP12.44) NAV per Share at 31 May 2017
-- NBPE's NAV increase of $3.2 million during the month included:
-- $4.2 million increase of unrealised gains attributable to the
receipt of new valuation information, or $0.09 per share
-- $0.6 million decrease of other unrealised losses, or $0.01 per
share, attributable to public securities, mark-to-market gains and
realised adjustments
-- $0.6 million was attributable to positive foreign exchange
adjustments at the portfolio company level, or $0.01 per share
-- $1.1 million of accrued cash and payment in kind ("PIK") interest
from the income investment portfolio, or $0.02 per share
-- $2.1 million decrease in NAV attributable to value changes to
other assets and liabilities during the month
Portfolio Valuation
The value of NBPE's private equity portfolio as of 30 June 2017 was
based on the following information([2] #_ftn2) :
-- 30% of the private equity fair value was valued as of 30 June 2017
-- 19% in private direct investments
-- 9% in public securities
-- 2% in credit-related fund investments
-- 4% of the private equity fair value was valued as of 30 April 2017
-- 4% in private direct investments
-- 66% of the private equity fair value was valued as of 31 March 2017
-- 52% in private direct investments
-- 14% in fund investments
Portfolio Commentary
During June, NBPE funded two new equity co-investments in USI insurance,
a leading insurance brokerage and consulting firm, and in FV Hospital, a
healthcare facility in Vietnam. NBPE received $20.2 million of
distributions during June including $4.8 million from income investments,
driven primarily from the sale of a healthcare credit investment, as
well as principal and interest income. Fund investments distributed
$14.5 million during the month, which included approximately $6.1
million of proceeds received from the sale of AdvancePierre Foods, a
portfolio company of OCM Principal Opportunities Fund IV. In addition,
NBPE also received $5.1 million of proceeds received from NB Crossroads
Fund XVII and Fund XVIII during June.
Subsequent to this reporting period in July, Trilantic Capital Partners
announced the acquisition of Ortholite, an equity co-investment
alongside Blue Point Capital Partners and NBPE valued the investment at
30 June 2017 at the expected proceeds at closing.
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.
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] #_ftnref1) Assumes reinvestment of dividends on the ex-dividend
date and reflects cumulative returns over time period shown.
([2] #_ftnref2) 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 30 April 2017 and 31 March 2017,
the Manager's analysis and historical experience lead the Manager to
believe that this approximates fair value at 30 June 2017.
Monthly NAV June 2017: http://hugin.info/137843/R/2123286/809775.pdf
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
http://www.nbprivateequitypartners.com
(END) Dow Jones Newswires
July 27, 2017 02:00 ET (06:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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