13 June 2013
NB Private Equity Partners Limited ("NBPE" or "the Company"), a closed-end private equity investment company, today announced an updated Net Asset Value ("NAV").
As of 31 May 2013, the unaudited estimated NAV per share was $11.95, which represents 0.8% increase compared to the unaudited restated NAV per share of $11.86 at 30 April 2013.
The value of NBPE's private equity portfolio as presented in the May 2013 monthly report was based on the following information:
- 40% of the private equity fair value was valued as of 31 May 2013
- 20% in private direct/co-investments based on 31 May 2013 valuation information
- 12% in credit-related fund investments
- 8% in public securities
- 59% of the private equity fair value was valued as of 31 March 2013
- 37% in fund investments based on Q1 2013 valuation information
- 22% in private direct/co-investments based on Q1 2013 valuation information
- 1% of the private equity fair value was valued as of 31 December 2012
- 1% in fund investments based on Q4 2012 valuation information
During May, NBPE's portfolio value increased due to $2.9 million of unrealized gains attributable to the receipt of Q1 2013 valuation information and $1.0 million of unrealized gains on credit-related fund investments. These gains were offset by $0.5 million of unrealized losses on public securities, and $0.5 million of negative foreign exchange adjustments. There were no shares repurchased during the month of May.
During the month of May, NBPE's aggregate trading volume on Euronext Amsterdam, the London Stock Exchange, and over-the-counter trading platforms was 839,193 shares, which represents an average daily trading volume of approximately 38,145 shares. The trading volume in May included approximately 404,174 shares traded over-the-counter and not reported on Euronext Amsterdam or the London Stock Exchange.
NBPE expects to continue to provide regular NAV updates within seven business days of each month's end.
Please refer to the valuation methodology section of the monthly report for a description of our valuation policy. While some valuation data is as of 31 December 2012 and 31 March 2013, our analysis and historical experience lead us to believe that this approximates fair value at 31 May 2013.
A breakdown of NBPE's NAV can be obtained in the May 2013 monthly report, which is published on NBPE's website at www.nbprivateequitypartners.com. The monthly report should be read in conjunction with this announcement.
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
FTI Consulting +44 20 7269 7297/7243
Edward Berry
Laura Pope
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 Stock Exchange.
NBPE holds a diversified portfolio of direct yielding investments, co-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 is a private, independent, employee-controlled investment manager. It partners with institutions, advisors and individuals throughout the world to customize solutions that address their needs for income, growth and capital preservation. With more than 1,800 professionals focused exclusively on asset management, it offers an investment culture of independent thinking. Founded in 1939, the company provides solutions across equities, fixed income, hedge funds and private equity, and had $216 billion in assets under management as of 31 March 2013. For more information, please visit our website at www.nb.com.
