**Summary**
NB Private Equity Partners (NBPE) released its interim results for the six months ending June 30, 2025, reporting a net asset value (NAV) total return of 4% and a share price total return of -7.6%. The private investment portfolio demonstrated robust performance, with revenue and EBITDA growth of 8.8% and 9.8%, respectively. The top 10 investments, representing 31% of the portfolio, showed even stronger growth, with weighted average LTM revenue and EBITDA growth of 13.7% and 15.9%, respectively. The portfolio’s maturity (average age of 5.6 years) positions it well for potential exits as market conditions improve.
NBPE maintains a strong balance sheet, supported by its co-investment model and minimal unfunded commitments. The company remains financially flexible, enabling new investments, dividend payments, and increased share buybacks, with $5.8 million repurchased since June, in addition to $43 million returned to shareholders via dividends.
Kepler Trust Intelligence highlights NBPE’s unique proposition, noting its cost-effectiveness due to the absence of double-layer fees on most co-investments. Despite a 30% discount to NAV (in line with peers), Kepler views NBPE as well-positioned to navigate a slowdown in private equity activity and capitalize on improved exit conditions. The firm suggests the current discount could be an attractive entry point for long-term investors.
**Key Points**
NBPE’s interim results show NAV growth of 4% and share price decline of 7.6%.
Strong performance in top 10 investments (31% of portfolio) with 13.7% revenue and 15.9% EBITDA growth.
Mature portfolio with high-quality"exit-ready" companies.
Robust balance sheet and financial flexibility for investments, dividends, and buybacks.
Kepler views NBPE as cost-effective and well-positioned for market recovery, with the current discount to NAV as a potential opportunity for long-term investors.