Portfolio

As of August 31, 2020

NBPE Summary
NBPE $ in millions, except per share 8/31/2020 7/31/2020 (Re-Stated)
Equity Investments (Pro Forma) $956.5 $970.1
Income Investments 125.5 117.7

Total Direct Investments $1,082.0 $1,087.8
Legacy Private Equity Funds 21.7 23.8

Total Private Equity Fair Value (Pro Forma) $1,103.7 $1,111.6
Cash (Pro Forma) 7.2 10.0
Credit Facility Borrowings (105.0) (110.0)
ZDPs (151.7) (148.2)
Dividend Payable - (13.6)
Other Assets / Liabilities (Net) 6.3 5.2

Net Asset Value $860.4 $855.0
Net Asset Value Per Share $18.40 $18.28
Capital Position 8/31/2020 7/31/2020 (Re-Stated)
Investment Level 128% 130%
Cash + Available Credit Facility (Pro Forma) 202.2 200.0
Adjusted Unfunded Commitments 109.8 118.8

Adjusted Commitments Coverage Ratio (Pro Forma) 184% 168%
Sterling NAV & Trading Information (£) 8/31/2020 7/31/2020 (Re-Stated)
NAV Per Share £13.74 £13.93
Closing Share Price £9.10 £8.92

Discount to NAV (33.8%) (36.0%)
Asset Overview
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TOP 10 POSITIONS BY FAIR VALUE
Investment Inv. Date Industry Fair Value ($m) % of Value
ProAmpac 2017 Industrials 36.9 3.3

MHS 2017 Industrials 33.9 3.1

Agiliti 2019 Healthcare 32.8 3.0

USI 2017 Financial Services 32.0 2.9

2017 Business Services 30.9 2.8

Action 2020 Consumer 28.7 2.6

Marquee Brands 2014 Consumer 28.4 2.6

Cotiviti 2018 Healthcare 28.0 2.5

Telxius 2017 Communications 27.7 2.5

Beyond Trust 2018 TMT 25.9 2.4

Total 305.2 27.7
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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