NB Private Equity Partners Limited : Portfolio update
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NB Private Equity Partners Announces Monthly Net Asset Value Update for April 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 30 April 2012, the unaudited NAV per share was $11.29, which represents an increase of 0.1% compared to the unaudited NAV per share of $11.28 at 31 March 2012.
The value of NBPE's private equity portfolio as presented in the April 2012 monthly report was based on the following information:
33% of the private equity fair value was valued as of 30 April 2012
- 21% in credit-related fund investments
- 8% in public securities
- 4% in private direct/co-investments based on 30 April 2012 valuation information
• 32% of the private equity fair value was valued as of 31 March 2012
- 25% in fund investments based on Q1 2012 valuation information
- 7% in private direct/co-investments based on Q1 2012 valuation information
• 35% of the private equity fair value was valued as of 31 December 2011
- 15% in fund investments based on Q4 2011 valuation information
- 20% in private direct/co-investments based on Q4 2011 valuation information
During April, NBPE's portfolio value increased due to $4.2 million net unrealized gains attributable to the receipt of Q1 2012 valuation information and $0.6 million of unrealized gains on credit-related fund investments. These increases were offset by $2.3 million of unrealized losses on public securities and $0.1 million of negative foreign exchange adjustments. Share repurchases during the month were accretive to NAV per share by less than $0.01.
During the month of April, NBPE's aggregate trading volume on Euronext Amsterdam, the London Stock Exchange, and over-the-counter trading platforms was 748,081 shares, which represents an average daily trading volume of approximately 39,373 shares. The trading volume in April included approximately 203,684 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 April 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.
NBPE expects to issue its interim management statement for the quarter ended 31 March 2012 in May. The interim management statement 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 interim management statement, including information that may become known subsequent to the issuance of this monthly report. Accordingly, amounts included in the interim management statement may differ from this monthly report.
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
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
Financial Dynamics +44 20 7269 7297/7243
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 $193 billion in assets under management as of December 31, 2011. For more information, please visit our website at www.nb.com.
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.
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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