NB Private Equity Partners Limited : Announce Monthly NAV Update for December 2015 <Origin Href="QuoteRef">NBPE.L</Origin>

NB Private Equity PartnersAnnouncement

12/01/2016 07:10

NB Private Equity Partners Limited: NB Private Equity Partners Ltd Announce
Monthly NAV Update for December 2015 
 
 12 January 2016 
 
 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 December 2015. 
 
 Key Highlights 
 
* 31 December 2015 NAV per Share of $14.37, up from $14.24 NAV per Share at 31
December 2014 
   
* Monthly, year to date and LTM NAV development: 

 
               
 Month               31 Dec 15 YTD              31
Dec 15 LTM 
 
 NAV development per Share                        
(0.1%)                          
0.9%                             0.9% 
 Total return NAV development per Share 1       
(0.1%)                          
5.0%                             5.0% 
 
 ·           -0.1% decrease in NAV during the month to $701.2
million, (30 November 2015: $701.9 million). Unrealised gains from accrued
cash and payment-in-kind ("PIK") interest and the receipt of new valuation
information were offset by losses on public securities, foreign exchange and
other expenses 
 
 ·           NBPE's NAV decrease of $0.8 million during the month
included: 
 
             o    $2.4 million of accrued cash and PIK interest
from the income investment portfolio, or $0.05 per share 
             o    $1.7 million of unrealised gains attributable
to the receipt of new valuation information, or $0.03 per share 
             o    $0.3 million of negative foreign exchange
adjustments, or ($0.01) per share 
             o    $0.8 million of net losses from other
realised gains, investment income, and expenses, or ($0.02) per share 
             o    $3.7 million of unrealised losses on public
securities, or ($0.08) per share 
 
 Portfolio Valuation 
 
 The value of NBPE's private equity portfolio as of 31 December 2015 was based
on the following information 2 : 
 
* 46% of the private equity fair value was valued as of 31 December 2015 
* 35% in private direct investments 
* 9% in public securities 
* 2% in credit-related fund investments 
   


* 2% of the private equity fair value was valued as of 30 November 2015 
* 2% in fund investments 
   


* 52% of the private equity fair value was valued as of 30 September 2015 
* 35% in private direct investments 
* 17% in fund investments 



 
                      
 1 Assumes reinvestment of dividends on the ex-dividend date and reflects
cumulative returns over time period shown. 
 2 P lease refer to the valuation methodology section of the interim report
for a description of our valuation policy. While some valuation data is as of
30 November and September 2015, our analysis and historical experience lead us
to believe that this approximates fair value at 31 December 2015. 
 
 Portfolio commentary 
 During December, NBPE funded $15.0 million to second lien investments in
Total Fleet Solutions, a fleet management company, and to Phillips Feed
Service, a pet food and pet supply distributor. NBPE also funded $9.0 million
to one new equity co-investment, Innovation Group, a business process
outsourcing company, and to two follow-on investments in LookingGlass, a cyber
security company, and Consilio, a leader in eDiscovery and document review
services.  $1.7 million was contributed to fund investments during the month.

 
 In terms of distributions, NBPE received $7.1 million from income
investments, consisting of interest and principal payments. NBPE received $3.4
million of distributions from equity co-investments, primarily driven by
Pepcom, as a result of the company's sale, and Freescale, as a result of a
partial sale of stock. $7.1 million was received from fund investments, driven
by distributions from NBPE's holding in NB Crossroads Funds. 
 
 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 Specialist Fund
Market of the London Stock Exchange. NBPE has ZDP shares admitted to trading
on the Specialist Fund Market of the London Stock Exchange and the Daily
Official List of The Channel Islands Securities Exchange Authority Limited.
NBPE holds a diversified portfolio of direct income investments, equity
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 18 countries, Neuberger Berman's team is more than 2,100
professionals and the company was named by Pensions & Investments as a 2013
and 2014 Best Place to Work in Money Management. Tenured, stable and long-term
in focus, the firm fosters an investment culture of fundamental research and
independent thinking. It manages $237 billion in client assets as of 30
September 2015. 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. 
 

 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX 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 
 HUG#1978177