NB Private Equity Partners has reported a 2.6 per cent increase in Net Asset Value (NAV) during the first six months of 2015 to USD713.0 million (31 December 2014: USD694.8 million).
The increase has been driven by unrealised gains on public and private equity holdings as well as cash and payment-in-kind (PIK) interest on the firm’s income investment portfolio.
NBPE’s NAV increase of USD45.1 million during the six months included:
• USD42.9 million of realised gains, or USD0.88 per Share, net of tax expense
• USD14.6 million of unrealised losses, or (USD0.30) per Share, net of tax expense
• USD16.2 million of yield income and dividends, or USD0.33 per Share
• USD15.0 million of operating expenses and other expenses, or (USD0.31) per Share
• USD11.2 million of dividends paid, or USD0.23 per Share
According to a statement released by the company: “NBPE continues to benefit from the full resources of the Manager’s integrated private equity platform for superior deal flow, due diligence and execution capabilities. The Manager believes that while many segments of the market remain competitive, there are a number of near-term opportunities that would be attractive investments for the portfolio and that the current investment pipeline remains strong.”
