Key Takeaways
- • NBPE generates 6% five-year annualised returns on direct equity investments, with a 2.9x aggregate multiple of cost on realised investments, demonstrating consistent performance in its core private equity strategy as of 30 June 2026.
- • Portfolio spans 67 companies across 45 private equity managers, providing diversification across industry verticals, vintage years, and underlying PE fund exposure—combining fund-of-funds depth with direct co-investment precision.
- • 15% uplift to carrying value achieved on realised and partially realised investments over five years, signalling strong value creation and exit execution capability across the portfolio.
- • Neuberger's investment manager earned top-tier ESG credentials, receiving 5-star scores in the most recent Principles for Responsible Investment (PRI) assessment for private equity integration, positioning NBPE as a responsible investing vehicle for institutional capital.
- • London-listed FTSE-250 structure provides liquidity and transparency for institutional investors seeking exposure to a curated portfolio of North American and European private companies without direct manager selection risk.
Summary
Neuberger Private Equity Partners (NBPE) is a London-listed investment company that deploys capital into a curated portfolio of direct investments in private companies, managed by Neuberger Berman's integrated private equity platform. The vehicle targets long-term capital growth through a combination of fund-of-funds exposure and selective co-investments alongside leading global private equity managers.
As of 30 June 2026, NBPE's portfolio comprises 67 direct equity investments across 45 underlying private equity managers, providing institutional investors with both diversification and operational control. This structure—often described as offering "the diversification of a fund-of-funds with the precision and fee efficiency of direct co-investment"—appeals to family offices and institutional allocators seeking to reduce fee drag while maintaining portfolio breadth. The portfolio is diversified across industries, investment vintage years, and manager partnerships, mitigating concentration risk inherent in single-manager or single-sector strategies.
Performance metrics reflect solid execution. Over the five-year period measured, NBPE achieved a 6% annualised return on direct equity investments, coupled with a 2.9x aggregate multiple of cost (MOIC) on realised positions. More notably, the manager realised a 15% uplift to carrying value on investments that have been partially or fully exited, indicating disciplined value creation and strong exit timing. These metrics suggest NBPE's investment team possesses meaningful competitive advantage in sourcing, underwriting, and realising private company investments.
The underlying investment manager, Neuberger Berman, maintains deep relationships across high-quality private equity funds globally and received a top-tier 5-star rating in the most recent Principles for Responsible Investment (PRI) assessment for its integration of environmental, social, and governance (ESG) factors within private equity strategies. This credential is increasingly material for large asset owners and endowments, where ESG governance is embedded in fiduciary duty and investment policy frameworks. The manager's approach treats material ESG factors as drivers of both opportunity identification and risk mitigation, reinforcing institutional confidence in capital preservation and long-term value creation.
As an FTSE-250 vehicle, NBPE offers institutional investors, family offices, and alternative investment professionals a liquid, transparent entry point into a professionally managed portfolio of private company stakes, reducing the operational burden of direct fund manager selection and portfolio monitoring.
As of 30 June 2026, NBPE's portfolio comprises 67 direct equity investments across 45 underlying private equity managers, providing institutional investors with both diversification and operational control. This structure—often described as offering "the diversification of a fund-of-funds with the precision and fee efficiency of direct co-investment"—appeals to family offices and institutional allocators seeking to reduce fee drag while maintaining portfolio breadth. The portfolio is diversified across industries, investment vintage years, and manager partnerships, mitigating concentration risk inherent in single-manager or single-sector strategies.
Performance metrics reflect solid execution. Over the five-year period measured, NBPE achieved a 6% annualised return on direct equity investments, coupled with a 2.9x aggregate multiple of cost (MOIC) on realised positions. More notably, the manager realised a 15% uplift to carrying value on investments that have been partially or fully exited, indicating disciplined value creation and strong exit timing. These metrics suggest NBPE's investment team possesses meaningful competitive advantage in sourcing, underwriting, and realising private company investments.
The underlying investment manager, Neuberger Berman, maintains deep relationships across high-quality private equity funds globally and received a top-tier 5-star rating in the most recent Principles for Responsible Investment (PRI) assessment for its integration of environmental, social, and governance (ESG) factors within private equity strategies. This credential is increasingly material for large asset owners and endowments, where ESG governance is embedded in fiduciary duty and investment policy frameworks. The manager's approach treats material ESG factors as drivers of both opportunity identification and risk mitigation, reinforcing institutional confidence in capital preservation and long-term value creation.
As an FTSE-250 vehicle, NBPE offers institutional investors, family offices, and alternative investment professionals a liquid, transparent entry point into a professionally managed portfolio of private company stakes, reducing the operational burden of direct fund manager selection and portfolio monitoring.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.