REG-NB Private Equity Partners Limited : NB Private Equity Partners announces Monthly NAV for May 2015 <Origin Href="QuoteRef">NBPE.L</Origin>

NB Private Equity PartnersAnnouncement

10/06/2015 07:00

10 June 2015
NB Private Equity Partners Limited ("NBPE" or the "Company"), a closed-end private equity investment company, today announced an updated Net Asset Value ("NAV"). During May, NBPE's NAV increased by $8.3 million, driven by unrealized gains on public and private equity holdings as well as cash and PIK interest on its income investment portfolio.
Key Highlights
Change in NAV per Share:
Month: 1.2%
Year to date: 2.5%
Last Twelve Months: 9.7%
Change in Total Return NAV per Share*: 
Month: 1.2%
Year to date: 4.4%
Last Twelve Months: 14.1%
* Assumes reinvestment of dividends and reflects cumulative returns over time period shown.
NBPE's NAV increase during the month included:
$8.5 million of unrealized gains on public securities
$2.9 million of accrued cash and PIK interest from the income investment portfolio
$2.5 million of unrealized gains attributable to the receipt of new valuation information
$0.9 million of negative foreign exchange adjustments
$4.7 million of net losses from other realized gains, investment income, and expenses
Year to date, through 31 May 2015, the average uplift as a result of sales was 30%1. There were no shares repurchased during the month of May.
Portfolio Valuation
The value of NBPE's private equity portfolio as presented in the May 2015 monthly report was based on the following information: 
51% of the private equity fair value was valued as of 31 May 2015
37% in private direct investments based on 31 May 2015 valuation information
11% in public securities
3% in credit-related fund investments
2% of the private equity fair value was valued as of 30 April 2015
2% in fund investments based on 30 April 2015 valuation information
47% of the private equity fair value was valued as of 31 March 2015
29% in private direct investments based on Q1 2015 valuation information
18% in fund investments based on Q1 2015 valuation information
   
Through 31 May 2015, NBPE received $30.6 million from buyout funds and co-investments. Of this amount, the Investment Manager analyzed $25.0 million of distributions. $1.4 million was the result of sales with an average uplift of 30%, relative to the carrying value the quarter end prior to the announcement of the transaction, $4.9 million was the result of dividends and $18.7 million was the result of partial sales and secondary offerings.
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
Please refer to the valuation methodology section of the monthly report for a description of our valuation policy. While some valuation data is as of 30 April and 31 March 2015, our analysis and historical experience lead us to believe that this approximates fair value at 31 May 2015. 
During the month of May, NBPE's aggregate trading volume on Euronext Amsterdam, the London Stock Exchange, and over-the-counter trading platforms was 1,689,788 Class A ordinary shares, which represents an average daily trading volume of approximately 84,489 Class A ordinary shares. 
NBPE expects to continue to provide regular NAV updates within seven business days of each month's end. A breakdown of NBPE's NAV can be obtained in the May 2015 monthly report, which is published on NBPE's website at www.nbprivateequitypartners.com. The monthly report should be read in conjunction with this announcement. 
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
 
FTI Consulting +44 20 3727 1046/1160
Edward Berry 
Laura Ewart 
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 $251 billion in client assets as of March 31, 2015. For more information, please visit our website at www.nb.com.
NBPE May 2015 Monthly NAV Update
NBPE Announces May 2015 Monthly NAV Update


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
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