Neuberger Private Equity Partners Limited USD · LSE:NBPE
Neuberger Private Equity Partners Limited USD — NB Private Equity Partners — Institute for Private Investors Fall Forum 2010
23 slides from Neuberger Private Equity Partners Limited USD's conference presentation, Oct 6, 2010
Slide 1: NB Private Equity Partners
NB Private Equity Partners 6 October 2010 Institute for Private Investors Fall Forum – New York, NY John Buser, Global Head of Private Equity Fund of Funds
Slide 2: Overview of Neuberger Berman
Overview of Neuberger Berman Independent, global investment management firm ~$170 billion in total assets under management ~1,700 employees in U.S., Europe and Asia Debt-free capital structure Majority owned and controlled by 230 senior professionals Neuberger Berman Equity Fixed Income NB A
Slide 3: NB Alternatives Fully Integrated Approach
NB Alternatives Fully Integrated Approach Approximately 170 Over 20 Years Fund of Funds Professionals as a Private in U.S., Equity Investor Europe and Asia Enhances Diligence and Decision Making Strengthens GP Relationships Co- Secondary investments Investments Approximately Serving Over $11 Bil
Slide 4: Strong Long Term Track Record
Strong Long Term Track Record Premier private equity Fund of Funds track record Since Inception Annualized Net IRR (January 1987 – March 2010) 20% 1,2 17.7% 15% 3 11.7% 4 10% 8.6% 4 7.6% 7.0%4 4 5.4% 5% 0% NB Alternatives FOF Private Equity Index S&P 500 NASDAQ FTSE 100 MSCI World NB Alternatives PE
Slide 5: NB Private Equity Partners
NB Private Equity Partners NBPE is a closed-end investment company that invests in an actively managed portfolio of private equity fund investments managed by leading sponsors and direct co- investments alongside leading sponsors Company Overview Portfolio Overview Listed in July 2007 with >53% ca
Slide 6: Driving NBPE Performance
Driving NBPE Performance Sourcing & Access to High Quality Deal Flow Investment Diligence & Selection NB Alternatives’ private equity platform has NBPE investments are vetted by an experienced invested, on average, over $1 billion a year and stable team of 50 professionals since 2005 in primary,
Slide 7: Favorable Competitive Position
Favorable Competitive Position NBPE’s NAV performance and financial position compare favorably to its peer group in the listed private equity fund of funds sector The total return of NBPE’s NAV per share has significantly outperformed the average of the peer group* – NBPE ranks first among the pee
Slide 8: Strong Commitment Coverage
Strong Commitment Coverage NBPE has the highest commitment coverage compared to its peer group Commitment Coverage vs. Trading Discount Levels 200% 175% 150% 158% 125% 100% 97% 75% 72% 50% 53% 48% 46% 45% 25% 34% 29% 17% 0% -13% -34% -34% -31% -25% -37% -38% -39% -37% -41% -51% -50% -75% -100% NBPE
Slide 9: Broadly Diversified Private Equity Portfolio
Broadly Diversified Private Equity Portfolio NBPE’s private equity portfolio is broadly diversified by asset class and tactically positioned with 32% exposure to special situations / distressed 6 Diversification by Asset Class and Investment Type Based on Fair Value Mid-cap Buyout Co-invest 9% Speci
Slide 10: Capital Deployment
Capital Deployment Approximately 46% of NBPE’s private equity fair value is attributable to investments made during 2008, 2009 and 2010 Private Equity Fair Value by Year of Investment 2010 2006 and Year of investment is calculated at 12% Earlier the portfolio company level and is 21% defined as th
Slide 11: Tactical Approach to Asset Allocation
Tactical Approach to Asset Allocation NBPE has shifted its asset allocation in favor of special situations and mid-cap buyout as a result of our efforts to tactically allocate the portfolio. Over 50% of the fair value that was invested in 2008, 2009 and 2010 was invested in special situations Deploy
Slide 12: Actively Making New Investments
Actively Making New Investments NBPE completed a number of new investments in the first eight months of 2010, primarily focused on attractive opportunities in special situations, mid-cap buyout and growth equity Fund Investments Direct Co-investments NBPE committed an aggregate $24.5 million to pr
Slide 13: Timely & Transparent Approach to Valuations
Timely & Transparent Approach to Valuations NBPE’s reported valuations account for all available information and are never more than a month old Valuation Commentary Fair Value by Date of Most Recent Information NBPE provides monthly valuation updates and conducts quarterly conference calls for in
Slide 14: Share Price and NAV per Ordinary Share
Share Price and NAV per Ordinary Share NBPE’s NAV per share increased by approximately 12% during the past year LTM Share Price Performance and NAV Per Ordinary Share Price $11.00 $10.00 $9.52 $9.00 $8.00 $7.00 $6.00 $6.00 (37.0% $5.00 Discount) $4.00 $3.00 30-Sep-2009 31-Dec-2009 31-Mar-2010 30-Jun
Slide 15: Focus on Shareholder Interests
Focus on Shareholder Interests We continue to focus on the best interests of our shareholders NBPE has repurchased 3.15 million shares, or 5.8% of the total issued Class A ordinary shares – Repurchases were accretive to NAV per share by approximately $0.39 in aggregate – NBPE executed accretive sh
Slide 16: Current Investment Strategy
Current Investment Strategy NBPE has actively pursued new investments throughout 2010, and we believe that a number of attractive investment opportunities continue to be accessible in the current market environment With $86.1 million of excess capital resources, we are well-positioned to capitaliz
Slide 17: Attractive Value Proposition
Attractive Value Proposition We believe that NBPE offers a compelling investment opportunity Experienced Investment Manager with a strong long-term track record High quality private equity portfolio – Top-tier managers with proven success – Robust allocation to special situations / distressed in
Slide 18: Additional Company Information
Additional Company Information
Slide 19: Trading Information
Trading Information Ordinary Share Information ZDP Share Information Trading Symbol: NBPE Trading Symbol: NBPE Exchanges: Euronext Amsterdam & London Stock Exchanges: London Stock Exchange & Channel Exchange Islands Stock Exchange Base Currency: USD Base Currency: GBP Bloomberg: NBPE NA, NBPE LN Blo
Slide 20: Contact Information
Contact Information Registered Office: NB Private Equity Partners Limited Corporate Brokers: Oriel Securities P.O. Box 225 Joe Winkley Heritage Hall, Le Marchant Street Tel: +44.20.7710.7600 St. Peter Port, Guernsey GY1 4HY Royal Bank of Scotland Channel Islands Gary Gould / Stuart Klein Tel: +44.(0
Slide 21: Endnotes
Endnotes 1. The performance information presented (the “PI”) is derived from the financial statements of NB Alternatives primary fund of funds vehicles and managed accounts (each a “Fund Account”) and their underlying partnerships. The PI includes Fund Accounts managed by NB Alternatives and its pre
Slide 22: 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 23: 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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