Neuberger Private Equity Partners Limited USD · LSE:NBPE
Neuberger Private Equity Partners Limited USD — NB Private Equity Partners — Investor Presentation (October 2010)
15 slides from Neuberger Private Equity Partners Limited USD's investor presentation, Oct 15, 2010
Slide 1: NB Private Equity Partners
NB Private Equity Partners 15 October 2010
Slide 2: Executive Summary
Executive Summary NBPE is pleased to announce a series of strategic actions and portfolio developments Strategic Asset Sale: NBPE has reached agreements in principle to sell its interest in eight large-cap buyout funds at a narrow discount to NBPE’s aggregate carrying value (together, the “Strateg
Slide 3: Strategic Asset Sale
Strategic Asset Sale NBPE expects to sell a meaningful portion of its large-cap buyout fund portfolio at a narrow discount to carrying value In early October 2010, NBPE reached agreements in principle to sell its interest in eight large-cap buyout investments for an aggregate 5.1% discount to the
Slide 4: Capital Return Policy
Capital Return Policy NBPE is implementing a new Capital Return Policy in order to provide returns of capital to Shareholders on an ongoing basis The Capital Return Policy is a continuation of NBPE’s previous steps such as the repurchase of 5.8% of the Shares pursuant to the liquidity enhancement
Slide 5: Prospective Investment Strategy
Prospective Investment Strategy Going forward, NBPE intends to strategically reposition its investment portfolio to have a higher allocation to direct and yield-oriented investments We believe the strategic portfolio repositioning will provide a number of benefits for Shareholders over the long te
Slide 6: Substantial Realization from NBPE’s Co-investment Portfolio
Substantial Realization from NBPE’s Co-investment Portfolio On 6 October 2010, Dresser, Inc. (“Dresser”) announced that it has reached an agreement to be acquired by General Electric Co. (“GE”) for $3 billion Dresser is a leading global energy infrastructure company majority-owned by funds managed
Slide 7: September 2010 NAV Update
September 2010 NAV Update NBPE’s NAV per Share increased by 1.2% during September ($ in millions, except per share values) 30 September 2010 30 September 2010 (Unaudited Monthly) (Pro Forma)* Fund Investments $470.9 $368.7 Direct Co-investments $100.0 $81.4 Total Private Equity Fair Value $570.9 $45
Slide 8: Strong Capital Position
Strong Capital Position Pro forma for the Strategic Asset Sale, the pending realization of Dresser and credit facility pay down, NBPE will have approximately $232 million of excess capital resources and 292% of unfunded commitments backstopped by cash and the undrawn credit facility As of 30 Septe
Slide 9: NBPE Portfolio Diversification – Pro Forma
NBPE Portfolio Diversification – Pro Forma Pro forma for the Strategic Asset Sale, the pending realization of Dresser and credit facility pay down, the allocation to large-cap buyout funds will decrease significantly from 26% to 8% Current Diversification – 30 September 2010 Pro Forma – 30 September
Slide 10: Conclusion
Conclusion NBPE continues to take actions to increase Shareholder value over the long term The Strategic Asset Sale allows NBPE to realize a meaningful portion of its large-cap buyout portfolio at a value significantly higher than the value implied by the Company’s stock price The Capital Return
Slide 11: Additional NBPE Information
Additional NBPE Information
Slide 12: Key Trading Information
Key Trading Information Ordinary Share Information ZDP Share Information Trading Symbol: NBPE Trading Symbol: NBPZ Exchanges: Euronext Amsterdam & London Stock Exchange: London Stock Exchange & Channel Islands Exchange Stock Exchange Base Currency: USD Base Currency: GBP Bloomberg: NBP
Slide 13: Endnotes
Endnotes 1. The diversification analysis by asset class and investment type is based on the fair value of underlying fund investments and co-investments. Determinations regarding asset class and investment type represent the Investment Manager’s estimates. Accordingly, the actual diversification of
Slide 14: Legal Disclaimer
Legal Disclaimer THE CONTENTS OF THIS DOCUMENT AND THE PRESENTATION ARE STRICTLY CONFIDENTIAL AND MAY NOT BE COPIED, DISTRIBUTED, PUBLISHED OR REPRODUCED IN WHOLE OR IN PART, OR DISCLOSED OR DISTRIBUTED BY RECIPIENTS TO ANY OTHER PERSON. ANY RECIPIENT OF THIS DOCUMENT AGREES TO KEEP PERMANENTLY CONF
Slide 15: Legal Disclaimer (Cont’d)
Legal Disclaimer (Cont’d) NBPE has not been, and has no intention to be, registered under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act") and investors will not be entitled to the benefits of that Act. The securities described in this document have not been and wil
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