Overview
NB Private Equity is a closed-end investment company registered under the laws of Guernsey managed by NB Alternatives. It invests in direct yielding investments, equity co-investments and fund investments selected by the NB Alternatives group of Neuberger Berman. NB Private Equity’s investment objective is to produce attractive returns on its capital while managing investment risk through portfolio diversification across asset class, vintage year, geography, industry and sponsor
Fundamentals
Price
Research History
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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11 Jun 2018 2 min read
QuotedData’s investment companies roundup – June 2018
QuotedData’s investment companies roundup – June 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2018. Kindly sponsored by Baillie Gifford. The premium of biotech company, Syncona, rose on positive news on two of its […]
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11 May 2018 2 min read
QuotedData’s Economic round up – May 2018
QuotedData’s economic round up – May 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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18 Apr 2018 2 min read
QuotedData’s Economic round up – April 2018
QuotedData’s economic round up – April 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
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10 May 2016 1 min read
Standard Life European Private Equity – Sitting in a sweet spot
In recent years Standard Life European Private Equity Trust has been one of the best performing private equity funds of funds listed in London. SL Capital, managers of the fund, believe it its discount of 26.9% is too wide for the quality of its NAV and that, as a European (mid-market) specialist, it sits in […]
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27 Apr 2015 1 min read
The importance of income – where to find it?
Life used to be simpler. If you had a bit of spare cash or you wanted to save up for something you’d just stick some money in a bank or building society account. If you had a nest egg and wanted to invest it in something safe and live off the income, you’d maybe buy […]
News
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16 Dec 2020 2 min read
QuotedData’s morning briefing 16 December 2020
In QuotedData’s morning briefing 16 December 2020: Ruffer backs Bitcoin – in a surprise move, the trust says “One recent addition, via one of the specialist managers appointed within the Ruffer Multi-Strategies Fund, has been bitcoin. This is primarily a defensive move, one made in November after reducing the company’s exposure to gold. The exposure to […]
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14 Sep 2020 2 min read
QuotedData’s morning briefing 14 September 2020
In QuotedData’s morning briefing 14 September 2020:: Martin Currie Global Portfolio (MNP) held up well over its interim results period to 30 June 2020, delivering a total NAV return of 8.4%. The result was well ahead of MNP’s benchmark, at 0.2%. MNP sits in the global sector, with healthcare and technology making up about half of […]
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04 May 2020 1 min read
QuotedData’s morning briefing 4 May 2020
Some encouraging signs from around the world, with countries ranging from Italy, Portugal, Thailand and Nigeria, beginning to ease lockdowns. NB Private Equity Partners (NBPE) agreed with Massachusetts Mutual Life Insurance Company to increase the existing credit facility by $50m to $300m. Downing Strategic Micro-Cap (DSM) reported annual results to 29 February 2020, with the […]
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26 Mar 2020 2 min read
QuotedData’s morning briefing 26 March 2020
In QuotedData’s morning briefing 26 March 2020: As the excitement of yesterday’s $2trn stimulus gave way to the reality of sharply rising cases in the US and stories of a potential uptick in cases in Japan (where the virus seemed to be under control) markets are falling once again. NB Private Equity has increased its borrowing […]
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15 Apr 2019 2 min read
QuotedData’s other news – 15 April 2019
QuotedData’s other news – 15 April 2019 Target Healthcare has completed the acquisition of a property in Formby, Merseyside for approximately GBP6.9 million PRS REIT said that, at 31 March 2019 it had GBP603m in gross development cost, which equates to 3,951 new homes with an estimated rental value (“ERV”) of approximately GBP37.3m per annum […]
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08 Jan 2019 2 min read
NB Private Equity accelerates revamp with sale of funds
NB Private Equity accelerates revamp with sale of funds – NB Private Equity is shifting its focus from investing in private equity funds to making direct investments. The sales process was focused on maximising value to NBPE shareholders both by absolute value and the opportunity cost of holding vs. selling. All fund investments were analysed and a decision […]
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19 Jul 2018 1 min read
NB Private Equity sets new dividend target
NB Private Equity sets new dividend target – NB Private Equity Partners Limited has just declared its second semi-annual dividend for 2018. The payment of $0.28 per share is a $0.03 increase from the company’s prior dividend and, on an annualised basis, this dividend payment represents a dividend yield of 4.1%. Going forward, NBPE has announced a target yield of 3.0% […]
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05 Apr 2018 2 min read
NB Private Equity Partners dollar gains wiped out by sterling strength
NB Private Equity Partners dollar gains wiped out by sterling strength – The highlights from NB Private Equity’s results for 2017 are: 31 December 2017 Net Asset Value per share of $17.45 increased $1.54 from $15.91 at 31 December 2016. However, in sterling term the move translated to a 2p rise from GBP12.89 to GBP12.91 NAV total return of 13.2% NAV increase […]
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16 Oct 2017 1 min read
Investment Trust Insider on Zero Dividend Preference Shares
James Carthew: there is a future for quality ‘zeros’ Split capital investment trust Jupiter Dividend & Growth (JDT) is approaching the end of its life. It was launched in December 2005 and is by far the oldest of the ‘splits’ that exist today. However, its articles of association say it must wind up on 30 […]
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31 Jul 2017 4 min read
Better year for Growth pool in F&C Managed Portfolio
Better year for Growth pool in F&C Managed Portfolio – F&C Managed Portfolio has published results for the year ended 31 May 2017. The NAV total return (i.e. adding dividends paid to capital performance) was 24.5% for the Income shares and 26.4% for the Growth shares. This compares with the 24.5% total return for the All-Share […]
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01 Jun 2017 2 min read
NB Private Equity Partners to join FTSE UK series, whilst completing ZDP redemption
NB Private Equity Partners (NBPE) has announced two corporate updates. The first is that it expects its A shares to join the FTSE All-Share Index and FTSE Small-cap Index, and secondly, it has completed of the redemption of its 2017 Zero Dividend Preference (“ZDP”) Shares. Inclusion in the FTSE UK Index Series On 31 May […]
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15 Feb 2017 1 min read
NB Private Equity looks to change listing arrangements
NB Private Equity Partners has appointed Jefferies International to act as its sponsor and financial adviser as it considers a change in its listing arrangements. It is looking at a number of initiatives including the potential for increasing the voting rights of the company’s class A ordinary shares (“A Shares”) and a transfer of listing of […]
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13 Oct 2016 1 min read
NB Private Equity benefits from Extraction Oil & Gas IPO
NB Private Equity has announced a 26 cent uplift to its NAV as a result of the initial public offering (IPO) of its portfolio company Extraction Oil & Gas Inc (NASDAQ: XOG) which occurred on 11 October 2016. Extraction is a U.S. based energy company focused on the exploration and production of oil and gas reserves in […]
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14 Sep 2016 1 min read
NB Private Equity Partners sees strong demand for ZDP rollover and placing
NB Private Equity Partners has announced that it has issued 50m new 2022 Zero Dividend Preference Shares (2022 ZDP shares), at 100p each, raising £50m. The issue was conducted by way of a rollover offer of the company’s 2017 ZDP Shares, into 2022 ZDP Shares, and an offer for subscription and the initial placing of […]
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23 Aug 2016 1 min read
NB Private Equity interims
NB Private Equity reports that at 30 June 2016 its NAV was $14.61, up from $14.35 per Share at 31 December 2015. NB Private Equity’s NAV increase of $12.6 million during the first six months of 2016 included: – $18.4 million of yield income and dividends, or $0.38 per Share – $17.2 million of realised gains, or $0.35 […]
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08 Aug 2016 1 min read
NB Private Equity plans new ZDP issue
NB Private Equity is planning to issue a new class of ZDPs with a maturity in 2022. At the same time they plan to offer holders of their 2017 zeros the chance to rollover into the new issue. They are hoping for a total issue size of £50m. The new ZDPs would be issued at […]
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15 Mar 2016 2 min read
NB Private Equity reports record distributions in 2015
NB Private Equity reports that, at 31 December 2015, its NAV per Share was $14.35, up from $14.24 NAV per Share at 31 December 2014. this translated into a 4.9% NAV total return during 2015. They say this was driven by unrealised gains on private equity and public holdings as well as cash and payment-in-kind (“PIK”) interest on its income investment portfolio. […]
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25 Aug 2015 1 min read
NB Private Equity NAV uplift driven by sales
NB Private Equity has announced interim results for the first half of 2015. It is reporting a 2.6% increase in Net Asset Value to $713.0 million (31 December 2014: $694.8 million). This was driven by unrealised gains on public and private equity holdings as well as cash and payment-in-kind (“PIK”) interest on its income investment portfolio. Of the $45.1m uplift […]
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28 May 2015 2 min read
British Empire’s Japan underweight proves costly
British Empire, chaired by Strone Macpherson (pictured), has reported total returns of 7.2% on both its net assets and shares for the six months ended 31 March 2015. These numbers are behind the returns on all the indices that British Empire uses to benchmark its performance. The Morgan Stanley Capital International All Country World ex-US Index total return […]
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24 Apr 2015 2 min read
Cayenne Trust says considering proposals for future of the company
The Cayenne Trust’s results for the year ended 31 January 2015 have been published. The company’s net asset value total return and share price total return were both 12.1% for the period. This compares to an 11.6% return on the FTSE All-Share Equity Investments Index. The dividend has been increased from 1.2p to 3.8p. The […]
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11 Mar 2015 1 min read
NB Private Equity has profitable and transformational year
NB Private Equity has announced results for the year ended 31 December 2014 and an estimated net asset value for 28 February 2015. The total return on net asset value over the course of 2014 was 16.2%. The discount narrowed and this propelled the total return to shareholders up to 26.9%. They say strong performance […]
In The Press
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03 Nov 2020 2 min read
Investment trust insider on private equity
Investment trust insider on private equity – James Carthew: private equity trusts are just way too cheap I have been saying for a while that discounts on private equity trusts are too wide. When I last wrote about this in May, confidence in the sector had been hit by the pandemic. Listed share prices were already […]
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06 May 2020 2 min read
Investment trust insider on private equity
Investment trust insider on private equity – James Carthew: ‘stale’ private equity trusts are just too cheap I spoke to the managers of ICG Enterprise (ICGT) last week after the publication of annual results showing the private equity trust made an 11.2% return on net assets in the year to 31 January, beating the FTSE All […]
