NBPE - September Monthly Net Asset Value Estimate

Core Viewpoint - NB Private Equity Partners (NBPE) reported its monthly NAV estimate for September 2025, highlighting a total NAV of $1.3 billion and various performance metrics over different time frames [1][2]. NAV Highlights - As of September 30, 2025, the NAV total return (TR) was 3.1% year-to-date and 11.5% over one year, with a significant 163.1% return over the past ten years [3]. - The MSCI World TR showed a much higher performance with a 17.8% year-to-date return and 239.5% over ten years, indicating a comparative underperformance of NBPE [3]. Portfolio Update - The NAV per share was reported at $27.44, reflecting a total return of (1.3%) for the month of September [5]. - In September, NBPE received $15 million in proceeds, contributing to a total of $101 million year-to-date, with an additional $64 million expected in the coming months [5][6]. - The company has $265 million in available liquidity, consisting of $55 million in cash and liquid investments, and $210 million in undrawn credit lines [8]. Investment Activity - NBPE deployed $10 million into a new investment in Infra Group, a network infrastructure provider, alongside PAI, marking a strategic move into a growing market [10]. - Year-to-date, the company has invested a total of $23 million into one new and three follow-on investments [10]. Share Buybacks - Approximately 261,000 shares were repurchased in September 2025 at a weighted average discount of 28%, resulting in an NAV per share accretion of approximately $0.05 [11]. - Year-to-date, NBPE has repurchased around 1.4 million shares, which has contributed to an NAV per share accretion of approximately $0.25 [11]. Portfolio Valuation - As of September 30, 2025, 93% of the portfolio was valued based on private direct investments, with 7% in public securities [11]. - The top 30 investments accounted for 78.6% of the total portfolio fair value, with significant holdings in various sectors including consumer, financial services, and technology [12]. Geographic and Sector Allocation - The portfolio is primarily concentrated in North America (76%) and Europe (24%), with no investments in Asia or the rest of the world [13]. - Sector allocation shows a diverse investment strategy, with 22% in Tech, Media & Telecom, 20% in Consumer/E-commerce, and 19% in Industrials [13].