REG-NB Private Equity Partners Limited : NBPE Releases March 2016 Monthly NAV <Origin Href="QuoteRef">NBPE.L</Origin>

NB Private Equity PartnersAnnouncement

11/04/2016 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 
 
 11 April 2016 
 
 NB Private Equity Partners Limited ("NBPE" or the "Company"), a closed-end
private equity investment company, today announced an updated Net Asset Value
("NAV") for the month ended 31 March 2016. 
 
 Key Highlights 
 
* Monthly, year to date and LTM NAV development: 

 
                                               Month    31 Mar 16 YTD    31 Mar 16 LTM   
                                                                                      
  Total return NAV development per Share  1     0.2%     0.0%             2.0%            
  NAV development per Share                     0.2%     (2.4%)           (2.6%)          
* 31 March 2016 NAV per Share of $14.00, $0.02 increase from $13.98 NAV per
Share at 29 February 2016 
   
* 0.2% increase in NAV during the month to $683.4 million, (29 February:
$682.0 million). Unrealised gains from accrued cash and payment-in-kind
("PIK") interest, foreign exchange and public securities were offset by
expenses and losses from the receipt of new valuation information 
   
* NBPE's NAV increase of $1.4 million during the month included: 
   
* $4.5 million of unrealised gains on public securities, or $0.09 per share 
* $2.0 million of accrued cash and PIK interest from the income investment
portfolio, 



 
                    or $0.04 per share 
 
* $1.7 million of positive foreign exchange adjustments, or $0.04 per share 
* $2.3 million of net losses from other realised gains, investment income, and
expenses, 

 
                    or ($0.05) per share 
 
* $4.5 million of unrealised losses attributable to the receipt of new
valuation information, or ($0.09) per share 

 
                      
 
 Portfolio Valuation 
 
 The value of NBPE's private equity portfolio as of 31 March 2016 was based on
the following information  2  : 
 
* 46% of the private equity fair value was valued as of 31 March 2016 
* 6% in public securities 
* 2% in credit-related fund investments 
* 38% in private direct investments 
   


* 1% of the private equity fair value was valued as of 29 February 2016 
* 1% in private direct investments 
   


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


* 52% of the private equity fair value was valued as of 31 December 2015 
* 35% in private direct investments 
* 17% in fund investments 



 
 Portfolio commentary 
 During March, NBPE completed one new equity co-investment and two new income
investments. NBPE participated in an equity co-investment in LGC, a life
sciences measurement and testing company. With respect to income investments,
NBPE invested $13.0 million in the second lien debt of GCA Services, a
national provider of janitorial and custodial services, and the second lien
debt of Asurion, a provider of mobile insurance protection, which was
purchased in the secondary market. An additional $1.0 million was invested in
follow-ons to the existing small business loan programs. 
 
 In terms of distributions, NBPE received $9.3 million from income
investments, consisting of principal and interest payments and $2.6 million as
a result of the exit of PhysioTherapy debt. Fund investments distributed $4.4
million during March, driven primarily by proceeds received from mid-cap
buyout and growth funds. NBPE also received $0.1 million from equity
co-investments. 
 
 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, direct 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. 
 
 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 and reflects
cumulative returns over time period shown. 
 
 2 P lease refer to the valuation methodology section of the monthly report
for a description of our valuation policy. While some valuation data is as of
29 February 2016, 31January 2016 and 31 December 2015, our analysis and
historical experience lead us to believe that this approximates fair value at
31 March 2016. 
 NBPE March 2016 Monthly NAV 


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 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#2002120