NB Private Equity Partners Limited, a closed-end private equity investment company, has announced an updated Net Asset Value (NAV). As of 30 September 2011, the unaudited NAV per share was $10.55, which represents a decrease of 1.7% compared to the unaudited restated NAV per share of $10.73 at 31 August 2011.
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 September 2011, the unaudited NAV per share was $10.55, which represents a decrease of 1.7% compared to the unaudited restated NAV per share of $10.73 at 31 August 2011.
The value of NBPE’s private equity portfolio as presented in the September 2011 monthly report was based on the following information:
29% of the private equity fair value was valued as of 30 September 2011
– 21% in credit-related fund investments
– 8% in public securities
71% of the private equity fair value was valued as of 30 June 2011
– 50% in fund investments based on Q2 2011 valuation information
– 21% in private direct / co-investments based on Q2 valuation information
During September, NBPE’s portfolio value decreased due to $5.0 million of unrealized losses on credit-related fund investments, $2.8 million of unrealized losses on public equities, and $2.2 million of negative foreign exchange adjustments. Share repurchases during the month were accretive to NAV per share by approximately $0.01.
During the month of September, NBPE’s aggregate trading volume on Euronext Amsterdam, the London Stock Exchange, and over-the-counter trading platforms was 605,581 shares, which represents an average daily trading volume of approximately 27,526 shares. The trading volume in September included approximately 1,831 shares traded over-the-counter and not reported on Euronext Amsterdam or the London Stock Exchange.
NBPE expects to issue its interim management report for the period ending 30 September 2011 in mid to late November. The report 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 report, including information that may become known subsequent to the issuance of this monthly NAV update. Accordingly, amounts included in the interim management report may differ from this monthly NAV update.
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 September 2011 monthly report, which is published on NBPE’s website at www.nbprivateequitypartners.com/default.aspx. The monthly report should be read in conjunction with this announcement.