NB Private Equity Partners Limited : Quarterly Report, Interim Management Statement and October Net Asset Value <Origin Href="QuoteRef">NBPE.L</Origin>

NB Private Equity PartnersAnnouncement

11/11/2015 07:00

11 November 2015 
 
 NB Private Equity Partners Limited ("NBPE" or the "Company"), a closed-end
private equity investment company, today releases its Quarterly Report and
Interim Management Statement for the period ended 30 September 2015 as well as
a Net Asset Value ("NAV") for the period ended 31 October 2015. NBPE also
published an updated Investor Presentation for the investor conference call
scheduled for 11 November 2015 at 14.00 GMT / 15.00 CET / 9.00 EST. 
 
 Key Highlights 
 
 * 30 September 2015 NAV per Share of $14.37, up from $14.24 NAV per Share at
31 December 2014 
   
 * 0.9% increase in Net Asset Value ("NAV") during the first nine months to
$701.1 million (31 December 2014: $694.8 million) driven by unrealized 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 increase of $6.3 million during the first nine months of 2015
included: 
   
 * $52.4 million of realised gains, or $1.07 per Share, net of tax expense 
 * $31.2 million of unrealised losses, or ($0.64) per Share, net of tax
expense 
 * $27.3 million of yield income and dividends, or $0.56 per Share 
 * $18.7 million of operating expenses and other expenses, or ($0.38) per
Share 
 * $23.4 million of dividends paid, or $0.48 per Share 
   
 
 
 * 31 October 2015 NAV per Share of $14.40, up from $14.37 at 30 September
2015. During October, NBPE's NAV increased by $1.5 million, principally due to
unrealised gains on public securities and offset by losses attributable to the
receipt of additional valuation information and expenses 
   
 * Portfolio continues to produce positive NAV development: 
 
 
                                             30 September 2015 YTD    31 October 2015 YTD    31 October 2015 (Month)   
                                                                                                                    
  NAV development per Share                   0.7%                     1.1%                   0.2%                      
  Total return NAV development per Share 1    5.0%                     5.2%                   0.2%                      
 * Following the receipt of new valuation information, the 30 September 2015
revised NAV represents a 0.6% decrease from the originally published 30
September 2015 monthly NAV estimate 
 
 
 Portfolio commentary 
 
 * Direct investment focus: 75% of fair value invested in equity
co-investments and income investments at 30 September 2015 (76% of fair value
at 31 October 2015) 
   
 * Strong cash flow: $258.6 million of distributions received during the first
nine months of 2015; $159.0 million funded to investments. $31.8 million of
contributions and $10.1 million of distributions during the month of October
2015 
   
 * New investments: 12 new equity co-investments and 11 new income investments
completed through 30 September 2015. Three new income investments and two new
equity co-investments funded in October 2015 
 
 
 Portfolio Valuation 
 
 The value of NBPE's private equity portfolio as at 30 September 2015 was
based on the following information 2 : 
 
 * 93% of the private equity fair value was valued as of 30 September 2015 
   
 * 81% in private direct/co-investments 
 * 10% in public securities 
 * 2% in credit-related fund investments 
   
 
 
 * 7% of the private equity fair value was valued as of 30 June 2015 
 
 
               
 The value of NBPE's private equity portfolio as of 31 October 2015 was based
on the following information 3 : 
 
 * 47% of the private equity fair value was valued as of 31 October 2015 
 * 33% in private direct investments 
 * 10% in public securities 
 * 2% in credit-related fund investments 
 * 2% in fund investments 
   
 
 
 * 46% of the private equity fair value was valued as of 30 September 2015 
 * 35% in private direct investments 
 * 11% in fund investments 
   
 
 
 * 7% of the private equity fair value was valued as of 30 June 2015 
 * 7% 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. 
 
 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 interim report for
a description of our valuation policy. While some valuation data is as of 30
June 2015, our analysis and historical experience lead us to believe that this
approximates fair value at 30 September 2015. 
 3 Please 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
September 2015 and 30 June 2015, our analysis and historical experience lead
us to believe that this approximates fair value at 31 October 2015 
 
 Investor Call 
 
 NB Private Equity Partners Limited ("NBPE" or the "Company") today announced
that an investor conference call will be held on Wednesday 11 November 2015 in
order to discuss the Company's recent financial performance and Company
developments. 
 
 The conference call will take place at 14.00 GMT / 15.00 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 75611656. 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 75611656. A recording of the investor call
will also be available on NBPE's website within several days after the call. 
 
 An updated investor presentation is 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 $237 billion in client assets as of September
30, 2015. For more information, please visit our website at www.nb.com. 
 
 This statement is made pursuant to article 5:25e of the Dutch Financial
Supervision Act (Wet op het financieel toezicht) which requirement stems from
the EU Transparency Directive. Pursuant to article 5:25e and article 5:25m of
the Dutch Financial Supervision Act this Interim Management Statement has been
made generally available by means of a press release and by publication on
NBPE's website ( www.nbprivateequitypartners.com ) and has been filed with the
Netherlands Authority for the Financial Markets (Autoriteit Financiële
Markten). 
 
 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#1965988