NB Private Equity Partners Monthly Net Asset Value Update for December 2009

Mittwoch, 13.01.2010 09:05

13 January 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 December 2009, NBPE's unaudited NAV per share was $9.04, representing
an increase of 0.6% compared to the unaudited NAV per share of $8.99 at 30
November 2009.
In December, the Company received £29.5 million ($49.0 million) in proceeds from
the previously announced issuance of zero dividend preference shares ("ZDP
Shares").
The Company also entered into a long-term currency forward contract to hedge a
significant portion of the liability associated with the new ZDP shares into
USD. Under the terms of the contract, NBPE agreed to purchase £40 million at a
defined rate in May 2017, protecting much of the final capital entitlement from
fluctuations in the Sterling exchange rate. At present, NBPE's Investment
Manager estimates that the remaining currency risk of the final capital
entitlement is indirectly hedged by portfolio investments that are denominated
in Sterling.
The value of NBPE's private equity portfolio as presented in the December 2009
monthly report was based on the following information:
 
* 21% of the private equity fair value was held in credit-related fund
investments that were re-valued as of 31 December 2009
* 9% of the private equity fair value was held in publicly traded securities
that were re-valued as of 31 December 2009
* 54% 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 December, NBPE's portfolio value increased due to $2.8 million of
unrealized gains on credit-related fund investments and $2.1 million of
unrealized gains related to public equity securities. These gains in value were
offset by $1.1 million of unrealized losses related to negative foreign exchange
adjustments.
NBPE expects to issue its annual report and audited financial statements for the
year ended 31 December 2009 in mid-March. The Company 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 NAV update. Accordingly, amounts included in the
financial statements may differ from the amounts published in the 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 December 2009 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
 
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.
 
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.
 
[HUG#1372939]
 
NBPE Monthly NAV Update for December 2009: http://hugin.info/137843/R/1372939/336336.pdf
NBPE Monthly Report - December 2009: http://hugin.info/137843/R/1372939/336337.pdf