NB Private Equity Partners Announces Proposal to Seek Admission to
Trading on The Specialist Fund Market of The London Stock Exchange
8 June 2009
NB Private Equity Partners Limited ("NBPE" or the "Company") today
announced that the Company intends to seek admission ("Admission") of
its shares ("Shares") to trading on the Specialist Fund Market
("SFM") of the London Stock Exchange plc ("LSE"). The Company will
retain its current listing on Euronext Amsterdam by NYSE Euronext
("Euronext Amsterdam") and so following Admission the Shares will
trade in both London and Amsterdam.
NBPE is a closed-end limited liability investment company registered
and incorporated under the laws of Guernsey and managed by NB
Alternatives Advisers LLC, an indirect wholly owned subsidiary of
Neuberger Berman Group. The Company's investment objective is to
produce attractive returns on its capital from its private equity
investments while managing investment risk through portfolio
diversification across asset class, vintage year, geography, industry
and sponsor.
It is expected that trading in the Shares on the SFM will commence in
June 2009. Following Admission, the Shares will be traded on both
Euronext Amsterdam and the SFM under the symbol NBPE. The Company is
not offering any new Shares or other securities in connection with
Admission.
Rationale for Admission
The Directors of NBPE believe that a dual-admission to trading on
Euronext Amsterdam and the SFM will be beneficial to the Company for
the following reasons:
* Increased investor appeal - Admission will increase the
Company's global visibility and maximise the Company's target
investor base. A number of UK institutions, private client brokers
and wealth managers, who are the primary drivers of day-to-day
liquidity, have a clear preference for or are mandated to invest
only in securities which are traded on the LSE.
* Increased market liquidity - Admission will bring the
Company under the market making regime in place in London and
therefore there will be a price in the Shares at all times. It is
hoped that having a number of market makers will help ensure that
liquidity, even if in small volumes, will be available at all
times.
* Increased broker coverage - Admission may serve to increase
the coverage of the Company by leading research analysts. This will
provide Shareholders and potential investors with more independent
information on the Company.
* Settled on CREST and Euroclear - following Admission the
Shares may be settled through either Euroclear or CREST.
* Achieved simply - there has been no need to change the
structure, investment objective and policy or corporate governance
of the Company to make it eligible for Admission.
Oriel Securities Limited is acting as sole sponsor and broker in
connection with Admission.
Talmai Morgan, Chairman of NBPE, commented:
"We are delighted to announce our intention to seek dual-admission to
trading of NBPE's Shares on the SFM. London is an important financial
centre and admission to trading on the LSE will boost NBPE's
visibility among the Company's target investor base. The increased
market liquidity offered by a dual-admission should also provide
long-term benefits to existing shareholders and potential new
investors."
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
Oriel Securities +44 20 7710 7600
Joe Winkley
Sapna Shah
Financial Dynamics +44 20 7269 7114
Rob Bailhache
Nick Henderson
About NB Private Equity Partners Limited
NBPE is a closed-end private equity fund of funds investment company
listed on Euronext Amsterdam. NBPE holds a diversified portfolio of
private equity fund investments and direct co-investments selected by
the NB Alternatives group of Neuberger Berman, diversified across
private equity asset class, geography, industry, vintage year and
sponsor.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
