NBPE Reports May NAV Decline Amid Partial Osaic Exit and Buybacks — Neuberger Private Equity Partners Limited (NBPE)

Event summary

NAV per share declined 0.7% in May 2026 to $27.22, driven by private company valuation adjustments and quoted holdings.
Partial exit of Osaic generated $27 million in proceeds, realizing approximately 40% of NBPE's April NAV in the asset.
Announced realization of FDH Aero, a 2024 vintage co-investment, expected to close in H2 2026.
$341k shares repurchased in May at a 32% discount, adding ~$0.07 NAV per share accretion.
$25 million invested in an undisclosed technology company, bringing YTD new investments to $104 million.

The big picture

NBPE's May NAV decline reflects broader private equity valuation pressures, though partial exits like Osaic and continued buybacks demonstrate active portfolio management. With $190 million in liquidity and a focus on balancing new investments with realisations, the firm is positioning itself for opportunistic deployments amid uncertain market conditions.

What we're watching

Realization Pace: Whether NBPE can sustain the $144 million in pro forma realisations for 2026, particularly with pending realisations of ~$91 million.
Valuation Pressures: How private company valuation adjustments will impact NAV in coming months, given 91% of the portfolio valued as of March 2026.
Buyback Strategy: The effectiveness of NBPE's $240 million share buyback allocation since early 2025 in enhancing NAV per share amid market conditions.