REG-NB Private Equity Partners Limited : Annual Report for the year ended 31 December 2015 and February 2016 Monthly NAV <Origin Href="QuoteRef">NBPE.L</Origin>

NB Private Equity PartnersAnnouncement

15/03/2016 07:05

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 
 
 15 March 2016 
 
 NB Private Equity Partners Limited ("NBPE" or the "Company"), a closed-end
private equity investment company, today releases its Annual Financial Report
and Consolidated Financial Statements for the period ended 31 December 2015 as
well as its Net Asset Value ("NAV") for the period ended 29 February 2016. 
 
 Key Highlights 
 
* 31 December 2015 NAV per Share of $14.35, up from $14.24 NAV per Share at 31
December 2014 
   
* 4.9% increase in Net Asset Value ("NAV") total return during 2015 1 driven
by unrealised gains on private equity and public holdings as well as cash and
payment-in-kind ("PIK") interest on its income investment portfolio 
   


* NBPE's NAV total return increase of $28.9 million during 2015 included: 
   
* $73.5 million of realised gains, or $1.51 per Share, net of tax expense 
* $55.2 million of unrealised losses, or ($1.13) per Share, net of tax expense

* $35.4 million of yield income and dividends, or $0.73 per Share 
* $23.4 million of dividends paid, or $0.48 per Share 
* $9.8 million of financing costs, or ($0.20) per share 
* $14.8 million of management fees, operating expenses and  other expenses,
or ($0.30) per Share 
   


* 29 February 2016 NAV per Share of $13.98. Including the dividend payment
made on 29 February 2016, the NAV per share would be $14.23. During February,
NBPE's NAV increased by $0.3 million, principally by yield income, which was
offset by unrealised losses on public securities and losses attributable to
the receipt of additional valuation information and expenses. 
   
* Portfolio continues to produce good NAV development: 

 
                                               31 December 2015 LTM    29 February 2016 YTD    29 February 2016 (Month)   
                                                                                                                       
  Total return NAV development per Share  1     4.9%                    (0.3%)                  2.5%                       
  NAV development per Share                     0.8%                    (2.4%)                  1.7%                       
                                                                                                                       
                                                                                                                       
* Following the receipt of new valuation information, the 31 January 2016
revised NAV represents a 0.6% increase from the originally published 31
January 2016 monthly NAV estimate 

 
 Portfolio Commentary 
 
* Strong cash flow: $308.0 million of distributions received during 2015,
NBPE's strongest year of distributions in its history. An additional $22.5
million of distributions were received during the month of February 2016,
bringing 2016 YTD distributions to $48.4 million. 
   
* New investments: 14 new equity investments, 1 follow-on equity investment
and 17 new income investments completed in 2015 totalling $225.8 million.
Three new equity investments funded in February 2015 (four new equity
investments year to date, two new direct yielding investments year to date). 
   
* Direct investment focus: 78% of fair value invested in direct equity and
income investments at 29 February 2016 (78% of fair value at 31 December
2016). 

 
 Portfolio Valuation 
 
 The value of NBPE's private equity portfolio as at 31 December 2015 was based
on the following information  2  : 
 
* 99% of the private equity fair value was valued as of 31 December 2015 
   
* 89% in private direct investments and fund investments 
* 8% in public securities 
* 2% in credit-related fund investments 
   


* 1% of the private equity fair value was valued as of 30 September 2015 

 
               
 The value of NBPE's private equity portfolio as of 29 February 2015 was based
on the following information  3  : 
 
* 44% of the private equity fair value was valued as of 29 February 2016 
* 37% in private direct investments 
* 6% in public securities 
* 2% in credit-related fund investments 
   


* 1% of the private equity fair value was valued as of 31 January 2016 
* 1% in private direct investments 
   


* 54% of the private equity fair value was valued as of 31 December 2015 
* 37% in private direct investments 
* 17% in fund investments 
   


* 1% of the private equity fair value was valued as of 30 September 2015 
* 1% in fund investments 



 
                       
 Outlook 
 
 NBPE continues to benefit from the full resources of the Manager's integrated
private equity platform for superior deal flow, due diligence and execution
capabilities. The Manager believes that while many segments of the market
remain competitive, there are a number of near-term opportunities that may be
attractive investments for the portfolio and that the current investment
pipeline remains strong. 
 
 Investor Call 
 
 An investor conference call will be held on Thursday 17 March 2016 in order
to discuss the Company's recent financial performance and Company
developments. 
 
 The conference call will take place at 13.00 GMT / 14.00 CET / 9.00 EST and
can be accessed by dialing +1-877-233-4049 (U.S.) or +1-706-634-9866
(International) with the access code 69904556. Please ask for "the NBPE
investor call." 
 
 A playback facility will be available two hours after the conference call
concludes. This facility can be accessed for the following two weeks by
dialing +1-855-859-2056 (U.S.) or +1-404-537-3406 (International). The code to
access the playback facility is 69904556. A recording of the investor call
will also be available on NBPE's website within several days after the call. 
 
 An updated investor presentation will be available on NBPE's website at
www.nbprivateequitypartners.com . 
 
 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 $240 billion in client assets as
of 31 December 2015. For more information, please visit our website at
www.nb.com . 
 
 
  1  Assumes reinvestment of dividends on the ex-dividend date at the closing
share price and reflects cumulative returns over time period shown. 
 
  2  Please refer to the valuation methodology section of the Annual Financial
Report for a description of our valuation policy. While some valuation data is
as of 30 September 2015, our analysis and historical experience lead us to
believe that this approximates fair value at 31 December 2015. 
 
  3  Please refer to the valuation methodology section of the Annual Financial
Report for a description of our valuation policy. While some valuation data is
as of 30 September 2015 and 31 December 2015, our analysis and historical
experience lead us to believe that this approximates fair value at 29 February
2015. 
 NBPE February 2016 Monthly NAV 
 NBPE Annual Report y/e 31 December 2015 


 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#1994260