REG-NB Private Equity Partners Limited : NB Private Equity Partners Ltd Announce Q1 2016 Quarterly Report and April 2016 Monthly NAV

NB Private Equity PartnersAnnouncement

13/05/2016 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 
 
 13 May 2016 
 
 NB Private Equity Partners Limited ("NBPE" or the "Company"), a closed-end
private equity investment company, today releases its Quarterly Report for the
period ended 31 March 2016 as well as its Net Asset Value ("NAV") for the
period ended 30 April 2016. NBPE also announces that an investor conference
call will be held on Tuesday 17 May 2016 in order to discuss the Company's
recent financial performance and Company developments. 
 
 Key Highlights 
 
 * 31 March 2016 NAV per Share of $14.00, down from $14.35 per Share at 31
December 2015. 
   
 * $0.25 per Share dividend paid on 29 February 2016 
 * NAV per Share total return of 0.0% 
 * NAV per Share change was driven by realised investment gains and portfolio
yield income offset by dividends, unrealised investment depreciation and
expenses 
   
 
 
 * NBPE's NAV decrease of $17.3 million during the first quarter of 2016
included: 
   
 * $12.2 million of dividends paid, or $0.25 per Share 
 * $24.0 million of realised gains, or $0.49 per Share, net of tax expense 
 * $31.5 million of unrealised losses, or ($0.65) per Share, net of tax
expense 
 * $8.3 million of yield income and dividends, or $0.17 per Share 
 * $2.2 million of financing costs, or ($0.05) per share 
 * $3.7 million of management fees, operating expenses and  other expenses,
or ($0.08) per Share 
   
 
 
 * 30 April 2016 NAV per Share was $14.07. During April, NBPE's NAV increased
by $3.8 million, principally driven by yield income, gains on public
securities and write-ups attributable to the receipt of additional valuation
information 
   
 * NAV development during 2016 to date has been as follows: 
 
 
                                                31 March 2016 LTM    30 April 2016 YTD    30 April 2016 Month  
                                                                                                            
  Total return NAV development per Share  1                   2.2%                 0.5%                   0.6%  
  NAV development per Share                                 (2.4%)               (1.9%)                   0.6%  
                                                                                                            
 
 Portfolio Commentary 
 
 * Strong cash flow: $62.3 million of distributions received during the first
quarter of 2016. An additional $15.0 million of distributions were received
during the month of April 2016, bringing 2016 YTD distributions to $77.3
million. 
   
 * New investments: Five new equity investments and four new income
investments completed in the first quarter of 2016 totalling $43.6 million.
Two new equity investments and one new income investment funded in April 2016.

   
 * Direct investment focus: 79% of fair value invested in direct equity and
income investments at 30 April 2016. 
 
 
 Portfolio Valuation 
 
 The value of NBPE's private equity portfolio as at 31 March 2016 was based on
the following information  2  : 
 
 * 95% of the private equity fair value was valued as of 31 March 2016 
   
 * 87% in private direct investments and fund investments 
 * 6% in public securities 
 * 2% in credit-related fund investments 
   
 
 
 * 5% of the private equity fair value was valued as of 31 December 2015 
 
 
               
 The value of NBPE's private equity portfolio as of 30 April 2016 was based on
the following information  3  : 
 
 * 45% of the private equity fair value was valued as of 30 April 2016 
 * 38% in private direct investments 
 * 5% in public securities 
 * 2% in credit-related fund investments 
   
 
 
 * 50% of the private equity fair value was valued as of 31 March 2016 
 * 38% in private direct investments 
 * 12% in fund investments 
   
 
 
 * 5% of the private equity fair value was valued as of 31 December 2015 
 * 5% 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 
 
 NB Private Equity Partners Limited ("NBPE" or the "Company") today announced
that an investor conference call will be held on Tuesday 17 May 2016 in order
to discuss the Company's recent financial performance and Company
developments. 
 
 The conference call will take place at 14.00 BST / 15.00 CEST / 9.00 EDT and
can be accessed by dialling +1-866-919-8155 (U.S.) or +1-706-634-9866
(International) with the access code 12162219. 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
dialling +1-855-859-2056 (U.S.) or +1-404-537-3406 (International). The code
to access the playback facility is 12162219. 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 prior to the call on
NBPE's website at http://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 19 countries, Neuberger Berman's team is more than 2,100
professionals and the company was named by Pensions & Investments as a Best
Place to Work in Money Management for three consecutive years. Tenured, stable
and long-term in focus, the firm fosters an investment culture of fundamental
research and independent thinking. It manages $243 billion in client assets as
of March 31, 2016. 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. 
 
 
  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 Quarterly Report
for a description of the Manager's valuation policy. While some valuation data
is as of 31 December 2015, the Manager's analysis and historical experience
lead the Manager to believe that this approximates fair value at 31 March
2016. 
 
  3  Please refer to the valuation methodology section of the Quarterly Report
for a description of the Manager's valuation policy. While some valuation data
is as of 31 December 2015 and 31 March 2016, the Manager's analysis and
historical experience lead the Manager to believe that this approximates fair
value at 30 April 2016. 
 NBPE April 2016 Monthly NAV 
 NBPE Q1 2016 Quarterly Report 


 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#2012440