NB Private Equity Partners Focuses on Share Buyback
NB Private Equity Partners (“NBPE” or the “Company”) has recently announced significant updates regarding its strategy for Class A shares. This move comes after gaining the green light from shareholders for a buy-back plan that gets underway with Jefferies International Limited. Through this action, the Company is signaling its strong commitment to increasing shareholder value and optimizing its capital structure.
Details of the Share Purchase
The buyback initiative was executed on the London Stock Exchange, with NBPE purchasing a total of 20,422 Class A shares. This transaction was carried out on the 10th of December, and it reflects the Company’s strategic approach to managing its equity. The shares were acquired at a price range ranging from £15.60 to £15.38, showcasing the active market conditions at the time of purchase.
Impact on Shareholder Equity
As part of this buyback program, all bought-back Class A shares will be cancelled, leading to a revised total of 43,585,438 outstanding shares. This reduction in share count is particularly important for shareholders as it can enhance earnings per share and provide shareholders with a greater ownership stake in the Company. Currently, there are an additional 3,150,408 Class A shares held in treasury, which the Company may utilize for future financing needs or potential strategic initiatives.
Investor Relations Contacts
For any inquiries regarding this transaction or more information about NB Private Equity Partners, you can reach out to the investor relations team:
NBPE Investor Relations
Phone: +44 20 3214 9002
Contact: Luke Mason (NBPrivateMarketsIR@nb.com)
Kaso Legg Communications
Phone: +44 (0)20 3882 6644
Contact: Charles Gorman (nbpe@kl-communications.com)
Understanding NB Private Equity Partners
NB Private Equity Partners Limited specializes in direct private equity investments, collaborating with top private equity firms globally. With an innovative approach, NBPE operates without imposing management fees or carried interest typically seen in other private equity ventures. This strategy allows NBPE to deliver a more cost-effective investment solution to its shareholders while targeting long-term capital appreciation.
Enabled by the expertise of NB Alternatives Advisers LLC, a wholly-owned subsidiary of Neuberger Berman Group LLC, the Company is focused on prudent investment choices and active asset management. By directly investing in high potential businesses, NBPE aims for sustainable growth and consistent dividend payouts to its stakeholders.
About Neuberger Berman
Founded in 1939, Neuberger Berman has grown into a prominent independent investment manager, recognized for its commitment to active management and client-focused solutions. The firm, which prides itself on being employee-owned, manages a wide array of investment portfolios totaling over $558 billion across various asset classes including equities, fixed income, and private equity.
Frequently Asked Questions
What is the purpose of the share buyback by NBPE?
The share buyback is aimed at enhancing shareholder value by reducing the number of outstanding shares, which can increase earnings per share.
Who is responsible for managing NB Private Equity Partners' investments?
NB Alternatives Advisers LLC, an indirect, wholly-owned subsidiary of Neuberger Berman Group LLC manages the investment decisions for NBPE.
What were the prices paid during the buyback of shares?
The shares were acquired at a price range of £15.60 to £15.38 during the buyback transaction.
How many shares were bought back by NBPE?
A total of 20,422 Class A shares were repurchased as part of the buyback program.
What will happen to the shares bought back by NBPE?
All Class A shares bought back will be cancelled, leading to a reduction in the total outstanding shares of the Company.
