REG-NBPE Announces April Monthly NAV Update

NB Private Equity PartnersAnnouncement

27/05/2026 07:00

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NB Private Equity Partners Announces April Monthly NAV Update

St Peter Port, Guernsey 27 May 2026

NB Private Equity Partners (NBPE), the $1.2bn(1), FTSE 250, listed private
equity investment company managed by Neuberger Berman, today announces its 30
April 2026 monthly NAV estimate.

NAV Highlights (30 April 2026)
* NAV per share was $27.42 (£20.18), a USD total return of 1.1% in the month
* Approximately 73% of valuation information based on 31 March 2026 private
company valuations or quoted holdings
* On a constant currency basis, Q1 2026 private valuations were up 0.4%(2)
* $4 million invested in Vinted, a leading European online second-hand
consumer marketplace, alongside EQT * ~127k shares repurchased (cost of ~$2.3
million) in April 2026 at a weighted average discount of 33% resulting in
~$0.02 NAV per share accretion in the month
* Continued balance sheet flexibility with $202 million of available liquidity
at 30 April 2026
 As of 30 April 2026                  YTD      1 Year  3 years        5 years      10 years      
 NAV TR (USD)* Annualised             (0.2%)   3.9%    7.4% 2.4%      30.5% 5.5%   169.6% 10.4%  
 MSCI World TR (USD)* Annualised      5.8%     29.7%   73.8% 20.2%    74.7% 11.8%  246.0% 13.2%  
                                                                                                 
 Share price TR (GBP)* Annualised     (14.8%)  (0.4%)  (0.6%) (0.2%)  21.5% 4.0%   189.9% 11.2%  
 FTSE All-Share TR (GBP)* Annualised  2.4%     21.8%   40.8% 12.1%    62.4% 10.2%  127.2% 8.6%   

* All NBPE performance figures assume re-investment of dividends on the
ex-dividend date and reflect cumulative returns over the relevant time periods
shown. Three-year, five-year and ten-year annualised returns are presented for
USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total
Returns.

Portfolio Update to 30 April 2026

NAV performance during the month primarily driven by changes in foreign
exchange rates and private company valuations with additional private company
valuation information expected in the coming weeks
* 0.5% NAV increase ($5 million) from foreign exchange movements
* 0.4% NAV increase ($4 million) from updated private company valuation
information
* 0.4% NAV increase ($4 million) from quoted holdings
* (0.2%) NAV decrease ($3 million) attributable to expense accruals
$18 million of realisation proceeds received in April 2026
* Consisting primarily of proceeds received from the full exit of Solace
Systems, a 2016 vintage co-investment
* Year-to-date realisations total $28 million as of the end of April 2026
One new direct investment completed in April 2026
* $4 million invested in Vinted, a leading European online second-hand
consumer marketplace, made alongside EQT
* $104 million committed to new investments year to date (including $25
million to one new investment which is expected to close in the coming weeks)
Continued buybacks in April 2026
* ~127k shares repurchased in April 2026 at a weighted average discount of
33%; buybacks were accretive to NAV by ~$0.02 per share
* Year to date, NBPE has returned $46 million to shareholders through
dividends and buybacks
Well positioned to take advantage of opportunities with $202 million of total
liquidity at 30 April 2026
* $22 million of cash and liquid investments with $180 million of undrawn
credit line available
* Investment level of 109%
* Will continue to balance the pace of new investments with realisations and
returns of capital to shareholders
Portfolio Valuation

The fair value of NBPE’s portfolio as of 30 April 2026 was based on the
following information:
* 6% of the portfolio was valued as of 30 April 2026 * 6% in public
securities
 
* 73% of the portfolio was valued as of 31 March 2026 * 73% in private direct
investments
 
* 21% of the portfolio was valued as of 31 December 2025 * 21% in private
direct investments
Supplementary Information (as of 30 April 2026)

 Company Name                        Vintage  Lead Sponsor                         Sector                  Fair Value ($m)  % of FV  
 Action                              2020     3i                                   Consumer                77.7             6.2%     
 Osaic                               2019     Reverence Capital                    Financial Services      69.8             5.5%     
 Solenis                             2021     Platinum Equity                      Industrials             67.0             5.3%     
 OneMonroe (fka Monroe Engineering)  2021     AEA Investors                        Industrials             66.0             5.2%     
 Mariner                             2024     Leonard Green & Partners             Financial Services      46.4             3.7%     
 FDH Aero                            2024     Audax Group                          Industrials             43.9             3.5%     
 True Potential                      2022     Cinven                               Financial Services      41.9             3.3%     
 Business Services Company*          2017     Not Disclosed                        Business Services       41.5             3.3%     
 BeyondTrust                         2018     Francisco Partners                   Technology / IT         38.5             3.1%     
 Branded Cities Network              2017     Shamrock Capital                     Communications / Media  37.4             3.0%     
 Constellation Automotive            2019     TDR Capital                          Business Services       36.0             2.9%     
 Ryan                                2026     Ares / Onex                          Business Services       35.0             2.8%     
 Marquee Brands                      2014     Neuberger Berman                     Consumer                32.5             2.6%     
 Benecon                             2024     TA Associates                        Healthcare              31.5             2.5%     
 Auctane                             2021     Thoma Bravo                          Technology / IT         31.2             2.5%     
 Staples                             2017     Sycamore Partners                    Business Services       28.9             2.3%     
 Excelitas                           2022     AEA Investors                        Industrials             28.4             2.3%     
 Engineering                         2020     Renaissance Partners / Bain Capital  Technology / IT         27.1             2.2%     
 AutoStore (OB.AUTO)                 2019     THL                                  Industrials             26.5             2.1%     
 Agiliti                             2019     THL                                  Healthcare              25.3             2.0%     
 Viant                               2018     JLL Partners                         Healthcare              23.6             1.9%     
 GFL (NYSE: GFL)                     2018     BC Partners                          Business Services       23.6             1.9%     
 Kroll                               2020     Further Global / Stone Point         Financial Services      21.4             1.7%     
 CH Guenther                         2021     Pritzker Private Capital             Consumer                20.5             1.6%     
 Addison Group                       2021     Trilantic Capital Partners           Business Services       18.1             1.4%     
 Qpark                               2017     KKR                                  Transportation          17.1             1.4%     
 Chemical Guys                       2021     AEA Investors                        Consumer                17.0             1.3%     
 Undisclosed Technology Company*     2026     Not Disclosed                        Technology / IT         14.4             1.1%     
 Bylight                             2017     Sagewind Partners                    Technology / IT         13.4             1.1%     
 Real Page                           2021     Thoma Bravo                          Technology / IT         13.2             1.0%     
 Total Top 30 Investments                                                                                  $1,014.8         80.5%    

*Undisclosed company due to confidentiality provisions.

 Geography                            % of Portfolio  
 North America                        77%             
 Europe                               23%             
 Total Portfolio                      100%            
                                                      
 Industry                             % of Portfolio  
 Tech, Media & Telecom                19%             
 Consumer / E-commerce                16%             
 Industrials / Industrial Technology  21%             
 Financial Services                   15%             
 Business Services                    16%             
 Healthcare                           9%              
 Other                                4%              
 Total Portfolio                      100%            
                                                      
 Vintage Year                         % of Portfolio  
 2016 & Earlier                       6%              
 2017                                 13%             
 2018                                 12%             
 2019                                 13%             
 2020                                 11%             
 2021                                 17%             
 2022                                 7%              
 2023                                 2%              
 2024                                 11%             
 2025                                 2%              
 2026                                 6%              
 Total Portfolio                      100%            

For further information, please contact:

NBPE Investor Relations        +44 20 3214 9002
Luke Mason        NBPrivateMarketsIR@nb.com

Teneo                        +44 (0) 20 7260 2700

Tom Murray NBPE@teneo.com

Rob Yates

Jessica Pine

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 
Neuberger is an employee-owned, private, independent investment manager
founded in 1939 with approximately 3,000 employees across 26 countries. The
firm manages $567 billion of equities, fixed income, private markets, real
estate and hedge fund portfolios for global institutions, advisors and
individuals. Neuberger's investment philosophy is founded on active
management, fundamental research and engaged ownership. The firm is proud to
be recognized for its commitment to its two constituents, clients and
employees. Again this past year, we were named Best Asset Manager for
Institutional Investors in the US (Crisil Coalition Greenwich) and the #1 Best
Place to Work in Money Management (Pensions & Investments, firms with more
than 1,000 employees). Neuberger has no corporate parent or unaffiliated
external shareholders. Visit www.nb.com for more information,
including www.nb.com/disclosure-global-communications for information on
awards. 
Data as of March 31, 2026.

Media Contacts:
US: Soogyung Jordan: Soogyung.Jordan@nb.com
EMEA: Fiona Kehily: Fiona.Kehily@nb.com

All Neuberger figures are as of December 31, 2025, unless otherwise noted, and
are subject to change without notice. The firm data, including employees and
assets under management, reflect the collective data of the various affiliated
investment advisors who are subsidiaries of Neuberger Berman Group LLC. The
company history/timeline includes the history of all the company's
subsidiaries, including predecessor companies and acquisitions.

This material is issued on a limited basis through various global subsidiaries
and affiliates of Neuberger Berman Group LLC. Please visit
www.nb.com/disclosure-global-communications to learn about each company and
the legal restrictions and restrictions. The name "Neuberger Berman" and logo
are registered service marks of Neuberger Berman Group LLC.

© 2026 Neuberger Berman Group LLC. All rights reserved.

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) Based on net asset value.
(2) Based on information received to-date and may be subject to change.

Attachment
*     April 2026 NBPE Factsheet vFF
(https://ml-eu.globenewswire.com/Resource/Download/b8be72cd-5529-41d8-84a5-7aa7d27b6e0e)