NBPE - August Monthly Net Asset Value Estimate

Core Insights - NB Private Equity Partners (NBPE) reported a monthly NAV estimate as of 31 August 2025, with a total NAV of $1.3 billion [2][3] - The NAV total return (TR) for the year-to-date is 4.5%, while the one-year return is 11.1% [4] - The company has realized $86 million year-to-date and has $269 million in available liquidity as of 31 August 2025 [5][8] NAV Performance - NAV per share was $27.79 (£20.57), reflecting a total return of 0.9% for the month [6] - Private company valuations increased by 2.3% during Q2 2025 and 1.9% year-to-date on a constant currency basis [6] - The NAV experienced a 0.6% increase ($7 million) from changes in quoted holdings and a similar increase from FX rate changes [7] Share Buybacks - Approximately 52,000 shares were repurchased in August 2025 at a weighted average discount of 28%, contributing ~$0.01 per share to NAV [10] - Year-to-date, around 921,000 shares have been repurchased at a weighted average discount of 29%, adding ~$0.17 per share to NAV [10] Portfolio Composition - As of 31 August 2025, 7% of the portfolio was valued based on public securities, while 93% was based on private direct investments [10] - The portfolio is primarily concentrated in North America (76%) and Europe (23%), with only 1% in Asia and the rest of the world [12] - The top 30 investments account for 78.2% of the total portfolio value, with significant holdings in sectors such as Technology, Consumer, and Industrials [11][12] Investment Strategy - NBPE focuses on direct private equity investments alongside leading private equity firms globally, aiming for capital appreciation and bi-annual dividends [13] - The investment manager, Neuberger Berman, emphasizes fee efficiency by avoiding management fees and carried interest payable to third-party GPs [13]