NB Private Equity Partners, a closed-end private equity fund of funds investment company, says its unaudited net asset value per share was USD8.33 as of 30 April 2009.
This represents an increase of 2.0 per cent compared to the unaudited NAV per share of USD8.17 at 31 March 2009.
The value of NBPE’s private equity portfolio as presented in the April 2009 monthly report was based on the following information:
• 23 per cent of NAV was held in credit related fund investments and publicly traded securities that have been re-valued as of 30 April 2009;
• 15 per cent of NAV was held in private equity funds and private co-investments valued using information through 31 March 2009; and
• 62 per cent of NAV was held in private equity funds and private co-investments valued using information through 31 December 2008
During April, NBPE’s portfolio value increased principally due to mark-to-market adjustments on credit related funds and public securities.
The portfolio experienced unrealized gains of USD5.5m on credit related fund investments and USD3.8m on publicly traded equity securities, as well as positive foreign exchange adjustments of USD1.0m.
In addition, the net effect of share repurchases through the Company’s Liquidity Enhancement Agreement contributed approximately USD0.01 to NBPE’s net asset value per share during April. A total of 64,573 shares were repurchased during the month at an average price per share of approximately USD1.86.
NBPE expects to issue its interim report for the quarter ended 31 March 2009 in early June.
NBPE also expects to provide regular NAV updates for the months ending 31 May 2009 and 30 June 2009 within seven business days of each month’s end.
