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26 May 2023
NB Private Equity Partners (NBPE), the $1.3bn, FTSE 250, listed private equity investment company managed by Neuberger Berman, today releases its 30 April 2023 Monthly Net Asset Value (“NAV”) estimate.
Highlights (as of 30 April 2023)
NAV per share of $28.26 (£22.48), an increase of 0.2% during the month Performance driven by positive valuation movements of Q1 2023 private company valuations and foreign exchange movements 72% of the valuation information as of 31 March 2023 or 30 April 2023 Well positioned to take advantage of investment opportunities - $305 million of available liquidity
| As of 30 April 2023 | YTD | 1 Year | 3 years | 5 years | 10 years |
| NAV TR (USD) | 1.3% | (3.4%) | 81.6% | 91.3% | 228.3% |
| MSCI World TR (USD) | 9.8% | 3.7% | 46.8% | 51.7% | 143.0% |
| | | | | | |
| Share price TR (GBP) | (0.3%) | 3.8% | 99.3% | 94.4% | 321.1% |
| FTSE All-Share TR (GBP) | 6.5% | 6.0% | 45.2% | 24.1% | 80.7% |
*Reflects cumulative returns over the time periods shown and are not annualised.
Portfolio Update to 30 April 2023
NAV performance during the month driven by:
0.5% NAV decrease ($6 million) from the value of quoted holdings (which constitute 13% of portfolio fair value) 0.2% NAV increase ($3 million) from positive FX movements, primarily attributable to changes in the EUR/USD rate in April 2023 Excluding FX, 0.7% NAV increase ($10 million) from the receipt of first quarter private company valuation information (56% of private companies valuations based on Q1 2023 valuation information) 0.1% NAV decrease ($2 million) attributable to changes in the Zero Dividend Preference share (ZDP) liability and expense accruals
Realisation activity - $40 million of proceeds received year to date
Includes $10 million from partial realisations of NBPE's co-investment in Action at December 2022 holding value. Following the realisation, Action remains NBPE's largest company, valued at $71 million at 30 April 2023
Robust liquidity – well positioned to take advantage of opportunities
$305 million of available liquidity ($5 million of cash, $300 million of undrawn credit facility)
Portfolio Valuation
The fair value of NBPE's portfolio as of 30 April 2023 was based on the following information:
16% of the portfolio was valued as of 30 April 2023
13% in public securities 3% in private direct investments
56% of the portfolio was valued as of 31 March 2023
56% in private direct investments
28% of the portfolio was valued as of 31 December 2022
28% in private investments
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