NBPE Posts 1.9% First-Half NAV Return as Exits Pick Up

Neuberger Private Equity Partners reported a 1.9% total return on net asset value in the first half of 2026, or 3.4% in sterling. The London-listed investment company said gains in private-company valuations and share buybacks helped offset weaker currency effects and quoted holdings.

Private investments, about 94% of the portfolio, rose 2.7% on a constant-currency basis. Net assets stood at $1.15 billion on June 30, with NAV of $28 per share.

Portfolio businesses showed solid operating growth. Their weighted-average revenue rose 11.1% over the prior 12 months, while EBITDA, a measure of operating profit, increased 12.1%.

NBPE announced $150 million in realizations during the first half and said another $68 million in proceeds was expected from transactions not yet announced. The company said completed exits generated 3.1 times the original investment and came in about 6% above earlier carrying values.

Investment activity is also rising after several years of restrained deployment. By September 18, NBPE had committed $164 million across nine investments for 2026, including more than $50 million for three AI-focused growth investments.

The company returned $144 million to shareholders through dividends and buybacks by September 18, more than twice the amount for the same period last year. At August 31, its NAV had risen 1.7% for the month, mainly on gains in quoted holdings.

The figures leave investors watching whether exits deliver cash on schedule and whether new investments can maintain portfolio growth. NBPE reported $142 million of available liquidity at August 31, including cash and an undrawn credit line.