Portfolio

As of April 30, 2020

NBPE Summary
NBPE $ in millions, except per share 4/30/2020 3/31/2020
Equity Investments $949.9 $955.9
Income Investments 113.9 109.6

Total Direct Investments $1,063.8 $1,065.4
Legacy Private Equity Funds 24.2 31.8

Total Private Equity Fair Value $1,088.0 $1,097.3
Cash 122.8 149.6
Credit Facility Borrowings (250.0) (250.0)
ZDPs (141.0) (138.1)
Dividend Payable - -
Other Assets / Liabilities (Net) (2.9) (14.9)

Net Asset Value $816.9 $843.8
Net Asset Value Per Share $17.47 $18.04
Capital Position 4/30/2020 3/31/2020
Investment Level 133% 130%
Cash + Available Credit Facility 122.8 149.6
Adjusted Unfunded Commitments 123.5 142.0

Adjusted Commitments Coverage Ratio 99% 105%
Sterling NAV & Trading Information (£) 4/30/2020 3/31/2020
NAV Per Share £13.85 £14.55
Closing Share Price £8.90 £6.84

Discount to NAV (35.7%) (53.0%)
Asset Overview
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TOP 10 POSITIONS BY FAIR VALUE
Investment Inv. Date Industry Fair Value ($m) % of Value
ProAmpac 2017 Industrials 32.6 3.0

Engineering 2016 TMT 32.5 3.0

USI 2017 Financial Services 32.0 2.9

Marquee Brands 2014 Consumer 31.0 2.9

2017 Business Services 30.9 2.8

MHS 2017 Industrials 29.2 2.7

LGC 2016 Healthcare 27.8 2.6

Cotiviti 2018 Healthcare 26.8 2.5

Action 2020 Consumer 24.9 2.3

Beyond Trust 2018 TMT 23.3 2.1

Total 291.0 26.8
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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