10 February 2010
NB Private Equity Partners Limited ("NBPE" or "the Company"), a closed-end
private equity fund of funds investment company, today announced an updated Net
Asset Value ("NAV").
As of 31 January 2010, the unaudited net asset value per share was $9.12, which
represents an increase of 0.8% compared to the unaudited net asset value per
share of $9.04 at 31 December 2009.
The value of NBPE's private equity portfolio as presented in the January 2010
monthly report was based on the following information:
· 22% of the private equity fair value was held in credit-related fund
investments that were re-valued as of 31 January 2010
· 9% of the private equity fair value was held in publicly traded securities
that were revalued as of 31 January 2010
· 18% of the private equity fair value was held in private equity funds and
coinvestments using valuation information through 31 December 2009
· 51% of the private equity fair value was held in private equity funds and
coinvestments using valuation information through 30 September 2009
During January, NBPE's portfolio value increased due to $3.2 million of
unrealized gains on credit-related fund investments. These gains in value were
offset by $1.1 million of unrealized losses related to public equity securities
and $0.5 million of unrealized losses related to negative foreign exchange
adjustments. In addition, net unrealized gains of $3.4 million were attributable
to the receipt of Q4 2009 valuation information and other adjustments for
certain fund investments and private co-investments.
NBPE expects to issue a fiscal year 2009 annual report in mid-March that will
include audited financial statements prepared in accordance with accounting
principles generally accepted in the United States. NBPE is required to
consider, and will consider, all known material information in preparing such
financial statements, including information that may become known subsequent to
the issuance of this monthly report. Accordingly, amounts included in the
financial statements may differ from this monthly report.
NBPE also 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 January 2010 monthly report,
which is published on the Company's website at www.nbprivateequitypartners.com
http://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 7114
About NB Private Equity Partners Limited
NBPE is a closed-end private equity fund of funds investment company admitted to
trading on Euronext Amsterdam and the Specialist Fund Market of the London Stock
Exchange. NBPE holds a diversified portfolio of private equity fund investments
and direct coinvestments selected by the NB Alternatives group of Neuberger
Berman, diversified across private equity asset class, geography, industry,
vintage year and sponsor.
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.
NBPE Monthly Report - January 2010:
NBPE Monthly NAV Update for January 2010: