RCS - NB Private Equity - Edison issues update on NB Private Equity Partners

NB Private Equity PartnersAnnouncement

26/10/2022 08:00

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RNS Number : 1562E  NB Private Equity Partners Limited  26 October 2022

London, UK, 26 October 2022

 

Edison issues update on NB Private Equity Partners (NBPE)

During NB Private Equity Partners' (NBPE) capital markets day on 5 October
2022, its management team highlighted that, despite the recent tough macro
conditions, NBPE's track record remains strong, as its direct co-investments
delivered a gross IRR and multiple of invested capital (MOIC) at 18.5% pa and
2.6x over the five years to end-August 2022, respectively. With a sustained
strong deal flow generated by the Neuberger Berman Private Markets platform
(in which NBPE can invest on a case-by-case basis) and liquidity of US$281m at
end-September 2022 (c 21% of current investment portfolio), NBPE is
well-placed to seize new opportunities as they arise.

 

Overall, growth in private portfolio earnings offset the softening valuation
multiples (average LTM EV/EBITDA down to 16.5x at end-June 2022 vs 17.4x at
end-2021). Average net debt to EBITDA rose to 5.7x from 5.2x at end-2021,
partially driven by M&A (most of the debt is floating rate). Importantly,
73% of NBPE's investments by value have covenant-lite or no debt, 65% of the
debt matures later than 2026 and overall debt represents on average c 35% of
capital structures at present, providing a good degree of flexibility.

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All reports published by Edison are available to download free of charge from
its website

www.edisongroup.com (http://www.edisongroup.com)

About Edison: Edison is a leading research and investor relations consultancy,
connecting listed companies to the widest pool of global investors. By
focusing on the volume and quality of investors reached - across institutions,
family offices, wealth managers and retail investors - Edison can create and
gauge intent to purchase, even in the darkest pools of capital, and then make
introductions via non-deal roadshows, events or virtual meetings.

Having been the first in-market 17 years ago, Edison now has more than 100
analysts covering every economic sector. Headquartered in London, Edison also
has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in
Athens, Johannesburg and Sydney.

Edison is authorised and regulated by the Financial Conduct Authority
(https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000MfYL6AAN) .

Edison is not an adviser or broker-dealer and does not provide investment
advice. Edison's reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Milosz Papst +44 (0)20 3077 5700 investmenttrusts@edisongroup.com
(mailto:investmenttrusts@edisongroup.com)
Michal Mordel +44 (0)20 3077 5700 investmenttrusts@edisongroup.com
(mailto:investmenttrusts@edisongroup.com)

Learn more at www.edisongroup.com (http://www.edisongroup.com) and connect
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