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NB Private Equity Partners Ltd. — Net Asset Value 2008
Jun 6, 2008
6280_iss_2008-06-06_6bc51500-2412-46d1-831f-79a360cdb43b.pdf
Net Asset Value
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THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS.
For further information about the global offering, reference is made to the offering memorandum dated 6 July 2007 (the "Offering Memorandum"). Copies of the offering memorandum, in the English language, may be obtained free of charge from the office of LBPE at Polygon Hall, Le Marchant Street, St. Peter Port, Guernsey, from the offices of the managers of the offering and from the office of ABN AMRO Bank N.V., the listing and paying agent, at Gustav Mahlerlaan 10, 1082 PP Amsterdam, the Netherlands, tel +31 20 383 6707, e-mail [email protected].
Lehman Brothers Private Equity Partners Limited Announces Monthly Net Asset Value Update for May 2008
6 June 2008
Lehman Brothers Private Equity Partners Limited ("LBPE" or "the Company"), a closed-end private equity fund of funds investment company, today announced an updated valuation of its Net Asset Value ("NAV").
As of 31 May 2008, the unaudited NAV per share was \$10.74. This represents an increase of 1.9% compared to the unaudited 30 April 2008 NAV per share of \$10.53 and an increase of 3.5% compared to the audited 31 December 2007 NAV per share of \$10.37.
LBPE's portfolio value increased during May principally due to net unrealized appreciation in the value of certain direct co-investments in the power and energy services sectors. The portfolio also benefited from net unrealized appreciation in the value of fund investments as well as positive mark-to-market adjustments on credit-related investments and publicly traded equity securities that LBPE is exposed to through funds and co-investments. These increases in value were offset primarily by negative foreign exchange adjustments, an increase in the Company's deferred tax liabilities and an accrual for carried interest.
LBPE also expects to provide regular NAV updates for the months ending 30 June 2008 and 31 July 2008 within seven business days of each month's end.
A breakdown of LBPE's NAV can be obtained in the monthly report for the period ending 31 May 2008, which is published on the Company's Web site at www.lbpe.com. The monthly report should be read in conjunction with this announcement.
For further information, please contact:
| Lehman Brothers Jeremy Apfel |
+44 207 102 3424 |
|---|---|
| Financial Dynamics | +44 207 269 7114 |
| Rob Bailhache | |
| Nick Henderson |
About Lehman Brothers Private Equity Partners
LBPE is a closed-end private equity fund of funds investment company listed on Euronext Amsterdam on 25 July 2007, raising a total of \$542.1 million. The proceeds of the IPO are in the process of being committed to a diversified portfolio of private equity fund investments and certain direct co-investments, diversified across private equity asset class, geography, industry, vintage year and sponsor, selected by Lehman Brothers' Private Equity business.
About Lehman Brothers Private Equity
Lehman Brothers' global Private Equity business, founded in 1984, currently oversees approximately \$34 billion across 38 different fund strategies and six asset classes: Merchant Banking, Venture Capital, Real Estate, Credit, Infrastructure, and Fund Related Investments which includes fund of private equity funds, fund of hedge funds, and the Manager Research and Selection Business.
About Lehman Brothers
Lehman Brothers, an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high net worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity. The Firm is headquartered in New York, with regional headquarters in London and Tokyo, and operates in a network of offices around the world. For further information about Lehman Brothers' services, products and recruitment opportunities, visit www.lehman.com.
This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.