Key Takeaways
- • NB Private Equity Partners (LON:NBPE) reported portfolio company EBITDA growth of 12%, according to a DirectorsTalk interview with Hardman & Co analyst Mark Thomas.
- • The company expects 2026 realisations of at least 18% of opening net asset value (NAV).
- • NBPE has allocated a further $120 million to share buybacks, with the dividend yield approaching 5%.
- • Hardman & Co's Mark Thomas argues that a more mature portfolio, substantial uninvested private equity capital and improving cash generation could narrow the share price discount to NAV.
- • The interview also flags AI as a possible support for deal activity and interest rates and AI-driven disruption as key risks.
Summary
Neuberger Private Equity Partners (LON:NBPE), a London-listed investment company managed by Neuberger Berman, is accelerating its exits and shareholder returns, according to a DirectorsTalk video interview with Hardman & Co analyst Mark Thomas. The company's portfolio company EBITDA growth reached 12% in the first-half results discussed in the interview. NBPE expects realisations in 2026 of at least 18% of opening NAV.
The company has allocated a further $120 million to share buybacks, and the dividend yield is approaching 5%. Thomas also cited a 5.6% NAV uplift as part of the discussion of capital returns.
Thomas explained why he believes the company's increasingly mature portfolio, substantial private equity capital awaiting deployment and improving visibility over cash generation could create conditions for a narrowing of the share price discount to NAV. He also examined how artificial intelligence could support deal activity and the emergence of new exit routes. The discussion covered the risks investors should monitor, including interest rates and AI disruption.
The interview is a video produced by DirectorsTalk, and the research view presented is that of Hardman & Co. Figures are as stated in the publisher summary and have not been independently verified in this summary.
The company has allocated a further $120 million to share buybacks, and the dividend yield is approaching 5%. Thomas also cited a 5.6% NAV uplift as part of the discussion of capital returns.
Thomas explained why he believes the company's increasingly mature portfolio, substantial private equity capital awaiting deployment and improving visibility over cash generation could create conditions for a narrowing of the share price discount to NAV. He also examined how artificial intelligence could support deal activity and the emergence of new exit routes. The discussion covered the risks investors should monitor, including interest rates and AI disruption.
The interview is a video produced by DirectorsTalk, and the research view presented is that of Hardman & Co. Figures are as stated in the publisher summary and have not been independently verified in this summary.
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