24th Apr 2024 10:42
(Alliance News) - NB Private Equity Partners Ltd on Wednesday reported a dip in its net asset value, but said it remains well-positioned for growth.
NB Private Equity is a Guernsey-based private equity investment company managed by Neuberger Berman Group LLC, a New York-headquartered investment management firm.
The firm said its NAV per share at December 31 was USD28.07, down 1.1% from USD28.38 a year ago.
NAV total return for 2023 was 2.3%, compared to 8.9% the previous year.
NB Private Equity also reported that its NAV per share at March 31 was USD27.30, a 3.1% decrease from USD28.20 in the corresponding period a year ago. The company added that its year-to-date NAV has been driven by "declines in quoted holdings" and foreign exchange headwinds.
Looking ahead, the investment firm said its portfolio remains "well diversified" and is well positioned for growth.
NB Private Equity shares were untraded at 1,660.00 pence each in London on Wednesday morning.
By Sabrina Penty, Alliance News reporter
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