12 July 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 30 June 2010, the unaudited net asset value per share was $9.43, which
represents a decrease of 0.9% compared to the unaudited net asset value per
share of $9.52 at 31 May 2010.
The value of NBPE's private equity portfolio as presented in the June 2010
monthly report was based on the following information:
* 23% of the private equity fair value was held in credit-related fund
investments that were re-valued as of 30 June 2010
* 9% of the private equity fair value was held in publicly traded securities
that were re-valued as of 30 June 2010
* 53% of the private equity fair value was held in private equity funds using
valuation information through 31 March 2010
* 15% of the private equity fair value was held in private co-investments
using valuation information through 31 March 2010
During June, NBPE's portfolio value increased due to $0.3 million of unrealized
gains on credit-related fund investments. These gains were offset by $2.7
million of unrealized losses on public equity securities and $0.1 million of
negative foreign exchange adjustments.
NBPE expects to issue its half-yearly report and unaudited financial statements
for the period ending 30 June 2010 in late August. The report will include
unaudited financial information 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 report, including information that may become known subsequent to the
issuance of this monthly report. Accordingly, amounts included in the
half-yearly management report may differ from this monthly report.
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 June 2010 monthly report, which
is published on the Company'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 7114
About NB Private Equity Partners Limited
NBPE is a closed-end private equity fund of funds 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.
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 - June 2010:
NBPE Monthly NAV Update for June 2010:
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: NB Private Equity Partners Limited via Thomson Reuters ONE