NB PRIV EQ PARTN Hardman & Co Research on NB Private Equity Partners (NBPE) 1H’23 results summary: continued growth
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Hardman & Co Research
Hardman & Co Research on NB Private Equity Partners (NBPE): 1H’23 results summary: continued growth
We reviewed NBPE’s business model in our initiation, Co-investments generating superior performance. We noted the high-secular-growth and downside-resilient investee companies, the value added by partner GPs, the good co-investing cashflow and return profile and the value added by the manager, NB. The 26 September results confirmed all these trends. The key numbers were i) NAV p/sh $29.24 (£23.00) (Aug $27.93/ £22.04. ii) 4.8% NAV TR at 30 June 2023, iii) portfolio company weighted average LTM 14.9% revenue and 15.4% EBITDA growth, iv) EV/LTM EBITDA 15.4x, and v) debt/EBITDA 5.4x. NBPE’s virtual investor day is on 5 October at 2pm (Registration here). Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/1h23-results-summary-continued-growth/ If you are interested in meeting the company, you can register your interest by clicking on the above link
Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement. About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.
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1740379 03-Oct-2023