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NB Private Equity Partners Ltd on Monday said it is well-positioned to perform across a range of economic scenarios, despite recent market volatility and uncertainty.
NB Private Equity is a Guernsey-based private equity investment company managed by Neuberger Berman Group LLC, a New York-headquartered investment management firm.
The company reported net asset value per share of $27.53, or £21.98, as of December 31, down from $28.07, or £22.02 a year prior.
Including dividend payments, NB Private Equity provided a 1.5% NAV total return in 2024, ‘driven by an increase in private valuations, [but] offset by quoted holdings and FX’. This compared to a 19.2% return from the MSCI world index and 9.5% from the FTSE all-share.
NB Private Equity paid 94 US cents per share in dividend during 2024, the same as in 2023.
‘Despite a more challenging environment for private equity exits, NBPE delivered solid realisations in 2024, generating $179 million in proceeds equivalent to 14% of the portfolio’s opening fair value,’ said Peter Von Lehe, managing director & head of investment solutions & strategy at Neuberger Berman.
NBPE ended the year in a ‘strong financial position’, with $283 million of available liquidity and an investment level of 102%, which is at the lower end of the long-term target investment level range of 100% to 110%.
Paul Daggett, managing director of Neuberger Berman said: ‘Despite recent market volatility and uncertainty, we remain confident that NBPE is well-positioned to perform across a range of economic scenarios. The portfolio remains well-diversified across our two key themes, and we believe it is well-positioned to continue to deliver growth over the long term.’
NB Private Equity shares were 1.4% higher at 1,468.20 pence each on Monday morning in London.
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