Portfolio

As of May 31, 2020

NBPE Summary
NBPE $ in millions, except per share 5/31/2020 4/30/2020
Equity Investments $927.8 $949.9
Income Investments 109.6 113.9

Total Direct Investments $1,037.4 $1,063.8
Legacy Private Equity Funds 22.0 24.2

Total Private Equity Fair Value $1,059.4 $1,088.0
Cash 9.6 122.8
Credit Facility Borrowings (125.0) (250.0)
ZDPs (138.7) (141.0)
Dividend Payable - -
Other Assets / Liabilities (Net) (0.3) (2.9)

Net Asset Value $805.0 $816.9
Net Asset Value Per Share $17.21 $17.47
Capital Position 5/31/2020 4/30/2020
Investment Level 132% 133%
Cash + Available Credit Facility 184.6 122.8
Adjusted Unfunded Commitments 123.5 123.5

Adjusted Commitments Coverage Ratio 150% 99%
Sterling NAV & Trading Information (£) 5/31/2020 4/30/2020
NAV Per Share £13.92 £13.85
Closing Share Price £8.78 £8.90

Discount to NAV (36.9%) (35.7%)
Asset Overview
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TOP 10 POSITIONS BY FAIR VALUE
Investment Inv. Date Industry Fair Value ($m) % of Value
Engineering 2016 TMT 33.0 3.1

ProAmpac 2017 Industrials 32.7 3.1

USI 2017 Financial Services 32.0 3.0

2017 Business Services 30.9 2.9

MHS 2017 Industrials 30.3 2.9

Cotiviti 2018 Healthcare 27.0 2.6

Marquee Brands 2014 Consumer 27.0 2.5

Action 2020 Consumer 26.0 2.4

Beyond Trust 2018 TMT 23.3 2.2

Agiliti 2019 Healthcare 23.2 2.2

Total 285.4 26.9
INVESTOR RELATIONS
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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