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NB Private Equity Partners Lim (NBPE)

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Thursday 10 February, 2011

NB Private Equity Partners Lim

NBPE Publishes NAV Update for January 2011


                      NB Private Equity Partners Announces
                Monthly Net Asset Value Update for January 2011

10 February 2011

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 2011, the unaudited NAV per share was $10.18, which represents
an  increase of  2.1% compared to  the unaudited  NAV per  share of $9.97 at 31
December 2010.

The  value of NBPE's private equity portfolio  as presented in the January 2011
monthly report was based on the following information:

  * 33% of the private equity fair value was valued as of 31 January 2011

-   26% in credit-related fund investments

-   7% in public securities

  * 34% of the private equity fair value was valued as of 31 December 2010

-   17% in fund investments based on preliminary Q4 2010 valuation data

-    17% in  private  direct  /  co-investments  based  on  preliminary Q4 2010
valuation data

  * 33% of the private equity fair value was valued as of 30 September 2010

-   29% in fund investments

-   4% in private co-investments

During  January,  NBPE's  portfolio  value  increased  due  to  $3.5  million of
unrealized  gains on credit-related fund investments, $0.6 million of unrealized
gains  on public equity securities and $0.2 million of positive foreign exchange
adjustments. In addition, $7.7 million of net unrealized gains were attributable
to the receipt of Q4 2010 valuation information for certain fund investments and
private  direct  /  co-investments.  Share  repurchases  during  the  month were
accretive to NAV by approximately $0.02 per share.

NBPE expects to issue its annual report and audited financial statements for the
year  ended 31 December  2010 in March.  The annual  report will include audited
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  NAV  update.  Accordingly,  amounts  included  in the annual report may
differ from this monthly NAV update.

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 January 2011 monthly report,
which        is        published        on        NBPE's        website       at  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

 Nick Henderson

 Edward Berry

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. Established in 1939,
Neuberger  Berman  is  one  of  the  world's  leading  independent and employee-
controlled  asset management  companies, managing  approximately $190 billion in
assets as of 31 December 2010.

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 2011:

NBPE Publishes NAV Update for January 2011:

This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(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. 
Source: NB Private Equity Partners Limited via Thomson Reuters ONE