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| Date | 13 Jan 2022 |
| Time | 07:00:00 |
| Category | Dividend Declaration |
| ID | nsm:1000588759-en.html |
Disseminated via GNW on 13 January 2022
THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS
41% Growth in NAV in 2021. Board Declares $0.47 per Share Semi-Annual Dividend, an Increase of 14.6%
13 January 2022
NB Private Equity (NBPE), the $1.5bn listed private equity investment company managed by Neuberger Berman, today releases its 31 December 2021 monthly NAV estimate.
Highlights (at 31 December 2021)
| At 31 December 2021* | YTD | 3 years | 5 years | 10 years |
| NAV TR (USD) | 40.7% | 88.4% | 125.1% | 272.4% |
| MSCI World TR (USD) | 22.3% | 83.0% | 106.8% | 249.0% |
| Share price TR (GBP) | 65.0% | 109.3% | 130.8% | 500.1% |
| FTSE All-Share TR (GBP) | 18.3% | 27.2% | 30.2% | 110.7% |
*Reflects cumulative returns over the time periods shown and are not annualised.
Business review (at 31 December 2021)
NBPE has continued to build on its strong performance, with NAV increasing to $1.5 billion during the year ($30.76 per share) a 40.7% total return in 2021
Realisations from the portfolio at a record level for the year with continued momentum; 14 full and partial realisations in 2021 at an aggregate 83% uplift to carrying value at 31 December 2020 and a 3.3x multiple of cost
Continued focus on investing in companies expected to benefit from long term growth trends
Robust liquidity
Strong NAV growth drives 14.6% increase in dividend
| Distribution amount: | $0.47 per Share |
| Ex-dividend date: | 20 January 2022 |
| Dividend record date: | 21 January 2022 |
| Final day for Currency Election: | 28 January 2022 |
| Final day for Dividend Re-investment Plan Election: | 04 February 2022 |
| Payment date: | 28 February 2022 |
Board intention to repay 2022 ZDPs at maturity
Portfolio Valuation
The value of NBPE’s portfolio as of 31 December 2021 was based on the following information:
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
Kaso Legg Communications +44 (0)20 3995 6673
Charles Gorman [email protected]
Will Sanderson
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, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 25 countries, Neuberger Berman’s diverse team has over 2,400 professionals. For seven consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. The firm manages $437 billion in client assets as of September 30, 2021. For more information, please visit our website at www.nb.com.
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.
1 While the Company declares dividends in US Dollars, Shareholders will receive Sterling dividends at the prevailing rate at the time of currency conversion, unless an election to receive dividends in US Dollars is made on forms which are available on NBPE’s website prior to the currency election date listed below. If an investor has previously elected to receive US Dollars, that election will be used unless changed. Investors may also participate in a dividend re-investment plan (forms for which are available on NBPE’s website) if they wish to increase their shareholdings instead of receiving cash dividends.
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