Portfolio

As of December 31, 2020

NBPE Summary
NBPE $ in millions, except per share 12/31/2020 11/30/2020
Equity Investments $1,000.7 $1,036.3
Income Investments 134.2 135.5

Total Direct Investments $1,135.0 $1,171.8
Legacy Private Equity Funds 19.1 24.0

Total Private Equity Fair Value $1,154.1 $1,195.8
Cash 3.0 3.7
Credit Facility Borrowings (35.0) (85.0)
ZDPs (157.0) (152.8)
Dividend Payable - -
Other Assets / Liabilities (Net) (4.8) (6.5)

Net Asset Value $960.3 $955.1
Net Asset Value Per Share $20.53 $20.42
Capital Position 12/31/2020 11/30/2020
Investment Level 120% 125%
Cash + Available Credit Facility 268.0 218.7
Adjusted Unfunded Commitments 97.2 102.8

Adjusted Commitments Coverage Ratio 276% 213%
Sterling NAV & Trading Information (£) 12/31/2020 11/30/2020
NAV Per Share £15.02 £15.30
Closing Share Price £11.65 £10.50

Discount to NAV (22.4%) (31.4%)
Asset Overview
TOP 10 POSITIONS BY FAIR VALUE
Investment Inv. Date Industry Fair Value ($m) % of Value
Petsmart / Chewy (NYSE: CHWY) 2015 Consumer 43.4 3.8

Agiliti 2019 Healthcare 37.5 3.3

MHS 2017 Industrials 37.5 3.2

USI 2017 Financial Services 34.0 2.9

Action 2020 Consumer 33.6 2.9

GFL 2018 Business Services 31.6 2.7

Marquee Brands 2014 Consumer 30.2 2.6

Cotiviti 2018 Healthcare 29.1 2.5

Beyond Trust 2018 TMT 29.0 2.5

Telxius 2017 Communications / Media 28.6 2.5

Total 334.5 28.9
Share Information
NBPE’s Class A ordinary shares are admitted to trading on the Premium Segment of the Main Market of the London Stock Exchange
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