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NBPE Announces September Monthly NAV Estimate

11 October 2024

NB Private Equity Partners (NBPE), the $1.3bn¹, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 30 September 2024 monthly NAV estimate.

NAV Highlights (30 September 2024)

• NAV per share was $27.37 (￡20.40), a total return of (0.3%) in the month

• Year to date NAV TR of 0.9%

• $73 million invested in new and follow on investments year to date

• $391 million of available liquidity at 30 September 2024

* All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns.

Portfolio Update to 30 September 2024

NAV performance during the month driven by:

• 0.2% NAV increase ($2 million) from the receipt of private company valuation information

• 0.2% NAV increase ($3 million) from positive FX movements

• 0.3% NAV decrease ($4 million) from the value of quoted holdings (which now constitute 6% of portfolio fair value)

• 0.4% NAV decrease ($5 million) attributable to expense accruals and changes in the Zero Dividend Preference share (ZDP) liability

Realisations from the portfolio continue in 2024

• $160 million of realisations received year to date, driven by Action, Cotiviti and previously announced sales of Melissa & Doug, FV Hospital and Safefleet as well as sales of public stock and continued realisations from the legacy income investment portfolio

$391 million of total liquidity at 30 September 2024

• $181 million of cash and liquid investments with $210 million of undrawn credit line available

$73 million invested in 2024 in new and follow-on investments

• $25 million invested in FDH Aero, a leading parts distributor to the aerospace and defense industry

• $38 million invested into two U.S. healthcare businesses, Benecon and Zeus

• $10 million of additional new and follow on investments

Portfolio Valuation

The fair value of NBPE’s portfolio as of 30 September 2024 was based on the following information:

• 6% of the portfolio was valued as of 30 September 2024

• • 6% in public securities

• 94% of the portfolio was valued as of 30 June 2024

• • 93% in private direct investments

  • 1% in private funds

For further information, please contact:

NBPE Investor Relations +44 (0) 20 3214 9002
Luke Mason [email protected]

Kaso Legg Communications +44 (0)20 3882 6644

Charles Gorman [email protected]
Luke Dampier
Charlotte Francis

Supplementary Information (as at 30 September 2024)

*Undisclosed company due to confidentiality provisions.

About NB Private Equity Partners Limited
NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

LEI number: 213800UJH93NH8IOFQ77

About Neuberger Berman
Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $481 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. The PRI identified the firm as part of the Leader’s Group, a designation awarded to fewer than 1% of investment firms for excellence in environmental, social and governance practices. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of June 30, 2024.

¹ Based on net asset value.

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. 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.

Attachment

• September 2024 NBPE Factsheet vFF