NB Private Equity Partners Announces Monthly Net Asset Value Update for May 2012
10 June 2012
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 2012, the unaudited NAV per share was $11.14, which represents a decrease of 1.6% compared to the unaudited restated NAV per share of $11.32 at 30 April 2012.
The value of NBPE's private equity portfolio as presented in the May 2012 monthly report was based on the following information:
* 32% of the private equity fair value was valued as of 31 May 2012
20% in credit-related fund investments
9% in public securities
3% in private direct/co-investments based on 31 May 2012 valuation information
* 67% of the private equity fair value was valued as of 31 March 2012
41% in fund investments based on Q1 2012 valuation information
26% in private direct/co-investments based on Q1 2012 valuation information
* 1% of the private equity fair value was valued as of 31 December 2011
1% in fund investments based on Q4 2011 valuation information
During May, NBPE's portfolio value decreased due to $6.0 million of unrealized losses on public securities, $1.9 million of negative foreign exchange adjustments, $1.3 million of unrealized losses on credit-related fund investments, and $0.7 million of net unrealized losses attributable to the receipt of Q1 2012 valuation information. Share repurchases during the month were accretive to NAV per share by approximately $0.02.
During the month of May, NBPE's aggregate trading volume on Euronext Amsterdam, the London Stock Exchange, and over-the-counter trading platforms was 667,934 shares, which represents an average daily trading volume of approximately 29,041 shares. The trading volume in May included approximately 114,773 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.
A breakdown of NBPE's NAV can be obtained in the May 2012 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
Financial Dynamics +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 private equity fund investments and direct/co-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 1,700 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 $199 billion in assets under management as of 31 March 2012. For more information, please visit our website at www.nb.com.
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
