NB Distressed Debt Investment Fund Makes Three Exits In First Half

26th Aug 2014 10:28

LONDON (Alliance News) - NB Distressed Debt Investment Fund Ltd Tuesday said it exited three investments during the first half of 2014, generating USD2.3 million of total income for NBDD and USD5.9 million for NBDX.

There were no exits for NBDG (global shares) during the period. During the first half of 2014, the net asset value total return for NBDD (ordinary shares) increased by 2.87%, from USD1.2189 to USD1.2538 per share. NBDX's (extended life shares) NAV per share increased by 4.78%, from USD1.2218 to USD1.2801 per share. NBDG's NAV per share decreased by 1.79%, from GBP0.9800 to GBP0.9625 per share.

The Guernsey-incorporated, closed-ended investment company's objective is to provide investors with attractive risk-adjusted returns through long-biased, opportunistic stressed, distressed and special situation credit-related investments while seeking to limit downside risk by, amongst other things, focusing on senior and senior secured debt with both collateral and structural protection.

The company consists of three different share classes, with different capital return profiles and in some instances different geographical remits.

The fund's investment manager is Neuberger Berman Europe Ltd, while the sub-investment manager is Neuberger Berman Fixed Income LLC.

(USD in millions, except per share data)	At June 30 2014 Ordinary Share Class	At June 30 2014  Extended Life Share Class	At June 30 2014 New Global Share Class	At June 30 2014 Aggregated
Net Asset Value	USD111.8	USD429.1	USD182.3	USD723.2
Net Asset Value per share	USD1.2538	USD1.2801	USD1.6459
Investments	USD107.8	USD417.1	USD211.0	USD735.9
- Distressed Portfolio	USD103.3	USD402.1	USD93.1	USD598.5
- Temporary Investments	USD4.5	USD15.0	USD117.9	USD137.4
Cash and Cash Equivalents	USD10.0	USD28.9	USD21.6	USD60.5

 

(USD in millions, except per share data)	At December 31 2013   Ordinary Share Class	At December 31 2013   Extended Life Share Class	At December 31 2013   Aggregated
Net Asset Value	USD151.3	USD430.2	USD581.5
Net Asset Value per share	USD1.2189	USD1.2218	-
Investments	USD143.2	USD410.3	USD553.5
- Distressed Portfolio	USD116.2	USD380.3	USD496.5
- Temporary Investments	USD27.0	USD30.0	USD57.0
Cash and Cash Equivalents	USD7.2	USD24.1	USD31.3

By Samuel Agini; [email protected]; @samuelagini

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