NB Private Equity Partners Limited Nb Private Equity: Strong Nav Growth Drives 32% Growth In Dividend
15 July 2021 - 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
Strong NAV Growth Drives 32% Growth in Dividend
15 July 2021
Highlights:
-- Semi-annual dividend of $0.41 per share, an increase of 32% to February
2021 dividend
-- The significant increase is driven by the Company's 22% growth in NAV1
year to date
-- Increase brings the annualised dividend yield on NAV to 3.0%, in line
with the Company's stated dividend policy; annualised share price yield
is 4.2% based on the closing share price of GBP14.25 on 14 July 2021.
William Maltby, Chairman, commented: "This payment represents
the eighth increase in the Company's dividend since 2013, resulting
in a dividend compound annual growth rate of 8.8%. The Company's
portfolio has performed exceptionally well -- increasing in value
by over 22% during the first six months of the year alone. The
Manager has built a portfolio of private companies, alongside some
of the world's leading private equity managers. Value-creation by
lead private equity managers has been significant and is continuing
in this maturing portfolio and the Company's growth in NAV directly
reflects this. Additionally, the Company's 2021 realisation
activity clearly demonstrates the ability of this portfolio to
generate highly successful realisations. The Directors and I are
pleased to increase the dividend in line with Company's commitment
of distributing 3.0% of NAV annually to shareholders."
While the Company declares dividends in US Dollars, Shareholders
will receive Sterling dividends at the prevailing rate at the time
of currency conversion, unless an election to receive dividends in
US Dollars is made on forms which are available on NBPE's website
prior to the currency election date listed below. If an investor
has previously elected to receive US Dollars, that election will be
used unless changed. Investors may also participate in a dividend
re-investment plan (forms for which are available on NBPE's
website) if they wish to increase their shareholdings instead of
receiving cash dividends.
Distribution amount: $0.41 per Share
=================================================== ===============
Ex-dividend date: 22 July 2021
=================================================== ===============
Dividend record date: 23 July 2021
=================================================== ===============
Final day for Currency Election: 6 August 2021
=================================================== ===============
Final day for Dividend Re-investment Plan Election: 13 August 2021
=================================================== ===============
Payment date: 31 August 2021
=================================================== ===============
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
Kaso Legg Communications +44 (0)20 3995 6673
Charles Gorman nbpe@kl-communications.com https://www.globenewswire.com/Tracker?data=GkWwwX92ExQbbFIFa5fT4MNxU2wv_YznPgnKG7t9oZj_M60qTQOPmkThrBY5E8dew3SNe7xMHtJtPRY2hCqVsP2BtTaxTvSvUzBDk8f4UJgtX0VXynGynoiq43rhzeQA
About NB Private Equity Partners Limited
NBPE invests in direct private equity investments alongside
market leading private equity firms globally. NB Alternatives
Advisers LLC (the "Investment Manager"), an indirect wholly owned
subsidiary of Neuberger Berman Group LLC, is responsible for
sourcing, execution and management of NBPE. The vast majority of
direct investments are made with no management fee / no carried
interest payable to third-party GPs, offering greater fee
efficiency than other listed private equity companies. NBPE seeks
capital appreciation through growth in net asset value over time
while paying a bi-annual dividend.
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, real estate and hedge funds--on
behalf of institutions, advisors and individual investors globally.
With offices in 25 countries, Neuberger Berman's diverse team has
over 2,300 professionals. For seven 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). In 2020, the PRI named Neuberger Berman a
Leader, a designation awarded to fewer than 1% of investment firms
for excellence in Environmental, Social and Governance (ESG)
practices. The PRI also awarded Neuberger Berman an A+ in every
eligible category for our approach to ESG integration across asset
classes. The firm manages $429 billion in client assets as of March
31, 2021. 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. 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) NAV total return of 22.2% year to date is a revised figure
from the previously stated 23.6% year to date NAV total return
announced on 13 July 2021.
(END) Dow Jones Newswires
July 15, 2021 02:00 ET (06:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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