NB Private Equity Partners Announces Capital Allocation Framework Update

Core Viewpoint - NB Private Equity Partners (NBPE) has updated its Capital Allocation Framework to enhance investment performance and long-term shareholder value, emphasizing the undervaluation of its current share price and the strength of its portfolio [1][4][16]. Capital Allocation Framework - The Capital Allocation Framework consists of two main pillars: allocating capital to investment programs and returning capital to shareholders through dividends and share buybacks [6]. - The Board aims to dynamically allocate capital based on market conditions and the outlook for realizations, with a focus on new investment opportunities as the primary driver of performance and NAV growth [6][14]. Investment Activity - NBPE has announced approximately $165 million in realizations year-to-date, reflecting a 17% uplift to carrying value, with expectations for further liquidity and realizations in the coming months [8][12]. - The company plans to allocate at least $100 million to new investments over the next three to six months, targeting an investment level of 105%-110% of NAV [8][14]. - The previously announced $120 million share buyback program is being accelerated due to the Board's confidence in the portfolio and the opportunity for NAV per share accretion [8][16]. Share Buybacks - Year-to-date, NBPE has repurchased 1.9 million shares for $37.9 million at a weighted average discount to NAV of 27%, contributing $0.33 in NAV per share accretion [16]. - The remaining allocation for share buybacks as of October 31, 2025, is approximately $82 million, which could be fully utilized in the next six to nine months if the current pace continues [17][18]. Dividend Policy - Since its inception in 2013, NBPE has returned over $400 million to shareholders through dividends, with $0.94 per share returned this year, totaling approximately $43 million [21]. - The Board reaffirms its dividend policy, targeting an annualized yield on NAV of 3.0% or greater, with the current share price yielding 4.8% [22].