NBPE – Net Asset Value(s)

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NBPE Announces June Monthly NAV Estimate

St, Peter Port, Guernsey, 22 July 2025

NB Private Equity Partners (NBPE), the $1.2bn¹, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 30 June 2025 monthly NAV estimate.

NAV Highlights (30 June 2025)

• NAV per share was $27.42 (£20.01), a total return of 0.5% in the month
• Total realisations of $68 million and $8 million of follow-on investments in the first half of 2025
• $284 million of available liquidity at 30 June 2025
• ~51k shares repurchased (~$1 million) during June 2025 at a weighted average discount of 30% which was accretive to NAV by ~$0.01 per share. Year-to-date, NBPE has repurchased ~759k shares (~$15 million) at a weighted average discount of 29% which was accretive to NAV by ~$0.11 per share

* All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns.

Portfolio Update to 30 June 2025

NAV performance during the month driven by:

• 0.7% NAV increase ($9 million) from changes in FX rates
• 0.1% NAV increase ($1 million) attributable to changes in prices of quoted holdings (which now constitute 6% of portfolio fair value)
• Immaterial impact on NAV from additional private valuation information received during the month
• 0.2% NAV decrease ($3 million) attributable to expense accruals

$68 million of realisations in the first half of 2025

• Of the $68 million received during the first half, over three-quarters of the proceeds are from full and partial sales / exits of private holdings; remaining realisations consisted of proceeds from the sales of quoted holdings and other partial realisations

$284 million of total liquidity at 30 June 2025

• $74 million of cash and liquid investments with $210 million of undrawn credit line available

2025 Share Buybacks

• ~51k shares repurchased in June 2025 at a weighted average discount of 30%; buybacks were accretive to NAV by ~$0.01 per share
• Year-to-date, NBPE has repurchased ~759k shares at a weighted average discount of 29% which were accretive to NAV by ~$0.11 per share

Portfolio Valuation

The fair value of NBPE’s portfolio as of 30 June 2025 was based on the following information:

• 6% of the portfolio was valued as of 30 June 2025
  • 6% in public securities
• 94% of the portfolio was valued as of 31 March 2025
  • 94% in private direct investments

For further information, please contact:

NBPE Investor Relations        +44 (0) 20 3214 9002
Luke Mason        NBPrivateMarketsIR@nb.com  

Kaso Legg Communications        +44 (0)20 3882 6644

Charles Gorman        nbpe@kl-communications.com
Luke Dampier
Charlotte Francis

Supplementary Information (as at 30 June 2025)

*Undisclosed company due to confidentiality provisions.

About NB Private Equity Partners Limited
NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

LEI number: 213800UJH93NH8IOFQ77

About Neuberger Berman
Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $538 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger’s investment philosophy is founded on active management, fundamental research and engaged ownership. The firm has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information, including www.nb.com/disclosure-global-communications for information on awards. Data as of June 30, 2025, unless stated otherwise.

This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

¹ Based on net asset value.

Attachment

• June 2025 NBPE Factsheet vF