31 July 2014
NB Private Equity Partners Limited ("NBPE" or "the Company"), a closed-end private equity investment company, today declared the second 2014 semi-annual dividend payment on the Company's class A ordinary shares ("Shares") as part of its long-term policy of paying regular dividends.1
The Board of Directors of NBPE has declared the second 2014 semi-annual dividend payment of $0.23 to be paid on each Ordinary Share on 27 August 2014. On an annualized basis, this dividend payment represents a dividend yield of 3.4% based on the estimated June 2014 NAV and 4.3% based on the Euronext closing price of $10.80 on 30 July 2014. This dividend payment represents a $0.01 per Share increase from the semi-annual dividend paid on 28 February 2014 and brings the cumulative dividend paid during 2014 to $0.45 per Share.
NBPE intends to pay regular, semi-annual dividends to its shareholders and plans to pay this dividend from the cash yield it receives from its direct yielding investments. The increased dividend is fully covered by the pro forma run rate cash yield from the direct yielding investments in the portfolio.2,3 NBPE continues to see a steady flow of new investment opportunities and believes this cash interest coverage of the dividend can be maintained over time.
NBPE has been pleased with the performance of its portfolio to date in 2014. NBPE's total return NAV per Share increased 7.3% and NAV per Share increased 5.6% during the first six months of 2014. NBPE continues to execute its strategy of making new equity co-investments and direct yielding investments in attractive private equity backed companies. Since the beginning of the year NBPE has invested over $190 million into direct investments3 and currently, on a pro forma basis, all direct investments total $528 million, or 80% of NAV, which includes a total of $302 million, or 46% of NAV, in direct yielding investments.3
Dividend Timetable
| Distribution amount per Share: | $0.23 cents per Share |
| Ex-dividend date: | 6 August 2014 |
| Dividend record date: | 8 August 2014 |
| Payment date: | 27 August 2014 |
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
FTI Consulting +44 20 3727 1046/1160
Edward Berry
Laura Ewart
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 yielding investments, equity 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 2,000 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 $257 billion in assets under management as of 30 June 2014. For more information, please visit our website at www.nb.com.
