NBPE Monthly NAV June 2017
July 27 2017 - 1:00AM
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
NB Private Equity Partners
Announces Monthly NAV Update for June 2017
27 July 2017
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 30 June 2017.
Key
Highlights
|
Month |
30 Jun-17
YTD |
30 Jun-17
LTM |
Total
return NAV development
per Share[1]
|
1.0% |
2.9% |
14.0% |
NAV
development per Share |
1.0% |
1.2% |
10.2% |
Portfolio
Valuation
The value of NBPE's private equity
portfolio as of 30 June 2017 was based on the following
information[2]:
-
30% of the private equity fair value was valued
as of 30 June 2017
-
4% of the private equity fair value was valued
as of 30 April 2017
-
66% of the private equity fair value was valued
as of 31 March 2017
Portfolio Commentary
During June, NBPE funded two new
equity co-investments in USI insurance, a leading insurance
brokerage and consulting firm, and in FV Hospital, a healthcare
facility in Vietnam. NBPE received $20.2 million of distributions
during June including $4.8 million from income investments, driven
primarily from the sale of a healthcare credit investment, as well
as principal and interest income. Fund investments distributed
$14.5 million during the month, which included approximately $6.1
million of proceeds received from the sale of AdvancePierre Foods,
a portfolio company of OCM Principal Opportunities Fund IV. In
addition, NBPE also received $5.1 million of proceeds received from
NB Crossroads Fund XVII and Fund XVIII during June.
Subsequent to this reporting
period in July, Trilantic Capital Partners announced the
acquisition of Ortholite, an equity co-investment alongside Blue
Point Capital Partners and NBPE valued the investment at 30 June
2017 at the expected proceeds at closing.
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
Premium Segment of the Main Market of the London Stock Exchange.
NBPE has 2022 ZDP Shares admitted to trading on the Specialist Fund
Segment of the Main Market of the London Stock Exchange. NBPE holds
a diversified portfolio of direct equity investments, direct income
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 approximately 1,900 professionals, as of June 30,
2017. The company was named the #1 firm in Pensions &
Investments 2016 Best Places to Work in Money Management survey
(among those with 1,000 employees or more). Tenured, stable and
long-term in focus, the firm fosters an investment culture of
fundamental research and independent thinking. It manages $271
billion in client assets as of June 30, 2017. 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] Please refer to the valuation methodology section of the
monthly report for a description of the Manager's valuation policy.
While some valuation data is as of 30 April 2017 and 31
March 2017, the Manager's analysis and historical experience lead
the Manager to believe that this approximates fair value at 30 June
2017.
Monthly NAV June 2017
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq 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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