As of 30 June 2011, NB Private Equity Partners unaudited NAV per share was USD10.96, which represents an increase of 5.6% compared to the audited NAV per share of USD10.38 at 31 December 2010.
During the first six months of 2011, NBPE’s private equity portfolio generated realized gains of USD23.9 million. The portfolio also had net unrealized gains of USD13.2 million from privately held investments, credit-related fund investments and public equity securities.
Investment performance during the quarter was offset by USD9.9 million of net operating expenses (including credit facility interest and ZDP share accretion), foreign exchange translation and taxes. Share repurchases during the first half of 2011 were accretive to NAV per Share by approximately USD0.05.