NB Private Equity Partners Monthly Net Asset Value Update forNovember 2009 - Investor Conference Call Scheduled for 16 December2009

9 December 2009
 
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"). In order to discuss the
Company's recent announcements and  financial performance, NBPE  will
host an investor conference  call at 15.30 CET  / 14.30 GMT /  9.30am
EST on Wednesday, 16 December 2009.
 
Monthly NAV Update
 
As of 30  November 2009, NBPE's  unaudited NAV per  share was  $8.99,
representing an increase of  2.5% compared to  the unaudited NAV  per
share of $8.78 at 31 October 2009.
 
The value  of NBPE's  private equity  portfolio as  presented in  the
November 2009 monthly report was based on the following information:
 
  * 20% of the private equity fair value was held in credit-related
    fund investments that were re-valued as of 30 November 2009
  * 8% of the private equity fair value was held in publicly traded
    securities that were re-valued as of 30 November 2009
  * 57% of the private equity fair value was held in private equity
    funds using valuation information through 30 September 2009
  * 15% of the private equity fair value was held in private
    co-investments using valuation information through 30 September
    2009
  * Less than 1% of the private equity fair value was held in private
    equity funds using valuation information through 30 June 2009
 
During November, NBPE's portfolio value increased due to $2.0 million
of unrealized gains on credit-related fund investments, $1.1  million
of unrealized  gains related  to public  equity securities  and  $0.5
million of positive  foreign exchange adjustments.  In addition,  net
unrealized gains of $7.8 million were attributable to the receipt  of
Q3 2009 valuation information for certain fund investments.
 
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  November  2009
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.
 
Investor Conference Call
 
The investor conference call will be held at 15.30 CET / 14.30 GMT  /
9.30am EST on Wednesday, 16 December  2009. The call can be  accessed
by dialing +1-866-919-8155 (U.S.) or +1-706-634-9866  (International)
with the  access code  46267672. Please  ask for  "the NBPE  investor
call."
 
A playback facility will be available two hours after the  conference
call. This facility can be accessed by dialing +1-800-642-1687 (U.S.)
or +1-706-645-9291 (International). The code to access the  recording
is 46267672.
 
An investor presentation will be  published on the Company's  website
prior to the conference call on 16 December 2009.
 
For further information, please contact:
 
NBPE Investor Relations     +1 214 647 9593
 
Financial Dynamics          +44 20 7269 7114
Rob Bailhache
Nick Henderson
 
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
co-investments selected  by the  NB Alternatives  group of  Neuberger
Berman, diversified  across private  equity asset  class,  geography,
industry, vintage year and sponsor.
 
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solely responsible for the content of this announcement.