Portfolio

As of May 31, 2021

NBPE Summary
NBPE $ in millions, except per share 5/31/2021 4/30/2021
Equity Investments $1,221.9 $1,191.5
Income Investments 132.4 127.1

Total Direct Investments $1,354.3 $1,318.5
Legacy Private Equity Funds 22.2 20.0

Total Private Equity Fair Value $1,376.5 $1,338.6
Cash $5.2 13.6
Credit Facility Borrowings (10.0) (20.0)
ZDPs (166.0) (161.2)
Dividend Payable 0 0
Other Assets / Liabilities (Net) (16.2) (12.8)

Net Asset Value $1,189.5 $1,158.2
Net Asset Value Per Share $25.43 $24.76
Capital Position 5/31/2021 4/30/2020
Investment Level 116% 116%
Cash + Available Credit Facility 295.2 293.6
Adjusted Unfunded Commitments 105.4 108.6

Adjusted Commitments Coverage Ratio 280% 270%
Sterling NAV & Trading Information (£) 5/31/2021 4/30/2021
NAV Per Share £17.89 £17.88
Closing Share Price £13.45 £13.90

Discount to NAV (24.8%) (22.3%)
Asset Overview
TOP 10 POSITIONS BY FAIR VALUE
Investment Inv. Date Industry Fair Value ($m) % of Value
Autostore 2019 Industrials $80.1 5.8%

Agiliti 2019 Healthcare 54.7 4.0%

MHS 2017 Industrials 44.7 3.2%

Telxius 2017 Communications 43.9 3.2%

Action 2020 Consumer 38.1 2.8%

USI 2017 Financial Services 38.0 2.8%

GFL 2018 Business Services 36.6 2.7%

Petsmart 2015 Consumer 35.3 2.6%

West Marine 2017 Consumer 33.8 2.5%

2017 Business Services 33.1 2.4%

Total - $438.3 32.0%
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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