NBPE Shares Buyback Transaction to Enhance Shareholder Value
NB Private Equity Partners Takes Strategic Step with Share Buyback
NB Private Equity Partners (“NBPE” or the “Company”) has recently unveiled plans regarding its Class A Shares, emphasizing a keen focus on enhancing shareholder value. As part of a strategic initiative approved during a shareholder meeting, the Company has embarked on a buyback program in collaboration with Jefferies International Limited.
Details of the Transaction
Recently, NBPE executed a buyback for a total of 10,822 Class A Shares on the London Stock Exchange. This buyback was made possible under general authority previously granted by shareholders, underscoring the Company’s commitment to delivering value to its investors. The shares were purchased at prices ranging from £15.06 as the highest price to £14.82 as the lowest during this transaction.
Significance of the Buyback
Once the shares are cancelled, the outstanding Class A Shares will reduce to 45,169,426. This reduction is not just a numeric adjustment; it reflects a broader strategy to enhance the liquidity and value of the remaining shares, reinforcing market trust in NBPE’s operations. Additionally, 3,150,408 Class A shares will remain in treasury. With these adjustments, the market should reference 45,169,426 voting rights when determining any changes in their interest in the Company.
About NB Private Equity Partners
NBPE stands out in the market for its approach to private equity investments. The Company primarily invests alongside reputable private equity firms globally, ensuring that their strategies are aligned for growth and effectiveness. The investment management is handled by NB Alternatives Advisers LLC, a subsidiary of the Neuberger Berman Group LLC, which is celebrated for its efficient fee structure that excludes management fees and carried interest payable to third-party GPs.
Proactive Investment Strategy
This structure not only promotes transparency but helps in maximising returns through strategic growth in net asset value over time. Furthermore, NBPE is committed to delivering value directly to investors via bi-annual dividends, making it an appealing option for those seeking stable investment returns.
Neuberger Berman's Legacy
NBPE is underpinned by the esteemed Neuberger Berman, an investment management giant with a rich history dating back to 1939. With a dedicated team of over 2,800 professionals operating across 26 countries, Neuberger Berman manages a vast portfolio of approximately $538 billion across various asset classes including equities, fixed income, private equity, real estate, and hedge funds.
Recognition and Awards
The firm is renowned not only for its robust investment philosophy rooted in fundamental research and active management but also for its commitment to employee engagement. Neuberger Berman has consistently been recognized as one of the best workplaces in money management, dominating the Pensions & Investments rankings over the past eleven years.
Conclusion
The recent buyback of Class A Shares by NBPE serves as a testament to the Company’s unwavering commitment to enhancing shareholder value and strategically positioning itself for future growth. As the investment landscape continues to evolve, initiatives like these are critical in maintaining competitive advantage and ensuring long-term success.
Frequently Asked Questions
What is the purpose of the share buyback by NBPE?
The share buyback is designed to enhance shareholder value by reducing the number of outstanding shares, thereby increasing the proportionate value of remaining shares.
How many shares were bought back in total?
NBPE bought back a total of 10,822 Class A Shares during this transaction.
What were the prices at which the shares were bought back?
Shares were bought back at prices ranging from £15.06 to £14.82.
What will happen to the shares that have been bought back?
All Class A Shares bought back will be cancelled after the transaction is completed.
Who manages the investments for NB Private Equity Partners?
NB Alternatives Advisers LLC, an indirect subsidiary of Neuberger Berman Group LLC, is responsible for managing NBPE's investments.
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