Portfolio

As of June 30, 2021

NBPE Summary
NBPE $ in millions, except per share 6/30/2021 5/31/2021
Equity Investments $1,276.7 $1,221.9
Income Investments 128.3 132.4

Total Direct Investments $1,405.0 $1,354.3
Legacy Private Equity Funds 20.4 22.2

Total Private Equity Fair Value $1,425.4 $1,376.5
Cash $26.2 $5.2
Credit Facility Borrowings - (10.0)
ZDPs (161.9) (166.0)
Dividend Payable 0 0
Other Assets / Liabilities (Net) (22.1) (16.2)

Net Asset Value $1,267.7 $1,189.5
Net Asset Value Per Share $27.10 $25.43
Capital Position 6/30/2021 5/31/2021
Investment Level 112% 116%
Cash + Available Credit Facility 326.2 295.2
Adjusted Unfunded Commitments 92.5 105.4

Adjusted Commitments Coverage Ratio 309% 280%
Sterling NAV & Trading Information (£) 6/30/2021 5/31/2021
NAV Per Share £19.62 £17.89
Closing Share Price £13.95 £13.45

Discount to NAV (28.9%) (24.8%)
Asset Overview
TOP 10 POSITIONS BY FAIR VALUE
Investment Inv. Date Industry Fair Value ($m) % of Value
Constellation Automotive 2019 Business Services $100.7 7.1%

Autostore 2019 Industrials $77.7 5.5%

Agiliti 2019 Healthcare 54.7 3.8%

MHS 2017 Industrials 44.7 3.1%

Telxius 2017 Communications 42.6 3.0%

GFL 2018 Business Services 40.7 2.9%

Petsmart 2015 Consumer 38.5 2.7%

USI 2017 Financial Services 38.0 2.7%

Action 2020 Consumer 37.0 2.6%

Beyond Trust 2018 Technology / IT 32.1 2.3%

Total - $506.7 35.7%
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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