NB Private Equity Partners Limited : NB Private Equity Partners Limited Announce January 2016 Monthly NAV

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 February 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 January 2016.

Key Highlights

• Monthly, year to date and LTM NAV development:

• $0.25 per Share dividend declared on 25 January 2016, to be paid on 29 February 2016.
   
• Option to receive dividends paid in Sterling currency and a dividend re-investment option are available to Shareholders
   
  • Sterling dividend currency election for UK Shareholders to receive dividends in Sterling
  • Dividend re-investment plan for Shareholders who prefer to focus on the generation of capital gains through re-investment of dividend proceeds in additional shares
  • Election deadline for both programs is 12 February 2016
  • Election forms for both programs can be found under the dividend information section on NBPE's website at www.nbprivateequitypartners.com
     
• 31 January 2016 NAV per Share of $13.89 (including impact of a $0.25 per Share dividend declared), down from $14.37 NAV per Share at 31 December 2015
   
• -1.0% decline in total return NAV per Share. -3.3% decrease in NAV during the month to $677.7 million, (31 December 2015: $701.2 million). Unrealised gains from accrued cash and payment-in-kind ("PIK") interest were offset by losses from the receipt of new valuation information, public securities, foreign exchange and other expenses
   
• NBPE's NAV decrease of $23.4 million during the month included:
   
  • $12.2 million of a declared dividend, or ($0.25) per share
  • $2.4 million of accrued cash and PIK interest from the income investment portfolio,

                   or $0.05 per share

• $0.9 million of negative foreign exchange adjustments, or ($0.02) per share
• $5.9 million of unrealised losses on public securities, or ($0.12) per share
• $6.7 million of unrealised losses attributable to the receipt of new valuation information, or ($0.14) per share
• $0.3 million of net losses from other realised gains, investment income, and expenses,

                   or ($0.01) per share

Portfolio Valuation

The value of NBPE's private equity portfolio as of 31 January 2016 was based on the following information^[2]:

• 45% of the private equity fair value was valued as of 31 January 2016
  • 37% in private direct investments
  • 6% in public securities
  • 2% in credit-related fund investments
     
• 14% of the private equity fair value was valued as of 31 December 2015
  • 7% in fund investments
  • 7% in private direct investments
     
• 41% of the private equity fair value was valued as of 30 September 2015
  • 29% in private direct investments
  • 12% in fund investments

Portfolio commentary
During January, NBPE participated in two new income investments including MedAssets, a healthcare performance improvement company, and a generic pharmaceutical company. NBPE also participated in an equity co-investment in GC Services, a provider of call center management and collection agency services.

In terms of distributions, NBPE received $20.7 million from equity co-investments, primarily driven by the distribution and subsequent sale of Sabre stock. This was NBPE's single largest holding and the full exit produced a strong outcome. Following this sale, public stock exposure has fallen to 6% as of 31 January 2016. Income investments distributed $4.7 million to NBPE during January, consisting of principal and interest, and NBPE also received $0.5 million from fund investments during the month.

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