NB Private Equity Partners, a closed-end private equity fund of funds investment company, has announced an updated net asset value.
NB Private Equity Partners, a closed-end private equity fund of funds investment company, has announced an updated net asset value.
As of 31 March 2009, NBPE’s unaudited NAV per share was USD8.17, representing an increase of 0.4 per cent compared to the unaudited NAV per share of USD8.13 at 28 February 2009.
The value of NBPE’s private equity portfolio as presented in the March 2009 monthly report was based on the following information: 21 per cent of NAV was held in credit related fund investments and publicly traded securities that have been re-valued as of 31 March 2009; 59 per cent of NAV was held in private equity funds valued using audited and unaudited information through 31 December 2008; and 20 per cent of NAV was held in private co-investments using valuation information through 31 December 2008.
During March, NBPE’s portfolio value increased principally as a result of appreciation in the unrealized value of publicly traded equity securities and unrealized gains due to positive foreign exchange adjustments.
In addition, the net effect of share repurchases through the company’s liquidity enhancement agreement contributed approximately USD0.02 to NBPE’s NAV per share during March.
A total of 155,557 shares were repurchased during the month at an average price per share of approximately USD1.82.
NBPE expects to issue its annual report and audited financial statements for the year ended 31 December 2008 during late April and also expects to issue its interim report and financial statements for the quarter ended 31 March 2009 in May.
NBPE also expects to provide regular NAV updates for the months ending 30 April 2009 and 31 May 2009 within seven business days of each month’s end.
