NB Private Equity Partners Executes Strategic Buyback Plan
NB Private Equity Partners (“NBPE” or the “Company”) has announced an important development regarding its Class A Shares buyback program. This initiative reflects the Company's commitment to enhancing shareholder value while utilizing available resources effectively.
Details of the Share Buyback
In accordance with the general authority granted by the shareholders on June 12, the Company has successfully completed a buyback of its shares, working in collaboration with Jefferies International Limited. This move is a crucial part of NBPE's financial strategy aimed at optimizing its share structure.
Purchase Summary
The transaction took place on August 15, where a total of 3,000 Class A Shares were repurchased at varying prices. Specifically, the highest price paid was £14.34, while the lowest was £14.16. Such strategic pricing indicates a well-executed approach to capital management.
Impact on Outstanding Shares
Once the buyback shares are cancelled, the total number of outstanding Class A Shares will be 45,427,760. Additionally, NBPE holds 3,150,408 shares in treasury. This reduction in available shares is expected to positively influence the share value by reinforcing each existing shareholder's proportional ownership.
Improving Shareholder Transparency
This buyback strategy aligns with the Financial Conduct Authority's (FCA) Disclosure Guidance and Transparency Rules. Market participants can rely on the figure of 45,427,760 voting rights when making decisions related to the Company’s stock, which enhances transparency around share ownership and voting rights.
Insights into NB Private Equity Partners
NB Private Equity Partners Limited is renowned for investing in direct private equity alongside globally recognized private equity firms. The Company is managed by NB Alternatives Advisers LLC, a wholly-owned subsidiary of Neuberger Berman Group LLC, which ensures a robust and strategically-focused management trail.
Investment Strategy
What makes NBPE stand out is its approach of avoiding standard management fees or carried interest for third-party General Partners. This model aims to provide clients with greater fee efficiency, and the Company seeks capital appreciation over time. Additionally, investors benefit from bi-annual dividend payments, demonstrating the Company's commitment to rewarding shareholders.
About Neuberger Berman
Neuberger Berman, established in 1939, is a prominent independent investment manager with over 2,800 employees in 26 countries. The firm boasts an impressive $538 billion in managed assets across various investment categories including private equity and hedge funds. Neuberger Berman prides itself on active management and engaged ownership, highlighting its firm commitment to maintaining high standards in the investment realm.
Acknowledged Workplace Excellence
The firm has been repeatedly recognized as an exemplary workplace in the financial management sector, being named by Pensions & Investments as one of the best places to work for more than a decade. This acknowledgment reflects the company's dedication to creating a positive work environment while continually achieving high levels of service for its clients.
Contact Information
For those interested in more details or inquiries, please contact the investor relations team at NBPE:
NBPE Investor Relations
+44 20 3214 9002
Luke Mason
Email: NBPrivateMarketsIR@nb.com
Kaso Legg Communications
+44 (0)20 3882 6644
Charles Gorman
Email: nbpe@kl-communications.com
Frequently Asked Questions
What is the recent buyback amount for NBPE?
The Company recently repurchased 3,000 Class A Shares as part of its buyback program.
How does the buyback affect outstanding shares?
After cancelling the repurchased shares, the outstanding Class A Shares will total 45,427,760.
Who manages NB Private Equity Partners?
NBPE is managed by NB Alternatives Advisers LLC, a subsidiary of Neuberger Berman Group LLC, a reputable investment manager.
What unique investment strategy does NBPE use?
The Company avoids standard management fees and carries interest for third-party General Partners, which provides greater fee efficiency to investors.
How can I contact NBPE for more information?
Interested parties can reach out to NBPE Investor Relations at +44 20 3214 9002 or contact them via email.
