Neuberger Private Equity Partners Finalizes 100,000 Share Repurchase on LSE

Overview of the Share Buyback Programme

On 21 July 2026, Neuberger Private Equity Partners Limited repurchased 100,000 Class A shares through Jefferies International Limited, with prices ranging from a314.25 to a314.38 per share. The repurchased shares, identified by ISIN GG00B1ZBD492, will be cancelled, effectively reducing the company’s share capital and enhancing earnings per share for existing shareholders.

The buyback was executed under a general authority granted at the annual general meeting on 11 June 2026. Utilizing Jefferies International Limited on the London Stock Exchange ensured transparent market pricing and fair execution. The timing and pricing reflect management’s confidence in the company’s current valuation.

Effect on Share Capital and Voting Rights

Following cancellation of the repurchased shares, NBPE’s outstanding Class A shares have decreased to 40,514,149. Additionally, the company holds 3,150,408 Class A shares in treasury, which carry no voting rights but remain available for future corporate use such as employee schemes or acquisitions. The Financial Conduct Authority requires disclosure of voting share counts, and NBPE confirms the adjusted figure for regulatory compliance under the Disclosure Guidance and Transparency Rules.

This reduction in share capital marginally increases the proportional ownership of shareholders not participating in the buyback. It also impacts key metrics like earnings per share and net asset value per share, important for investors assessing private equity investment vehicles. Treasury shares provide management with capital flexibility for strategic initiatives or shareholder returns.

NBPE’s Investment Approach and Operating Model

Neuberger Private Equity Partners Limited is a Guernsey-domiciled closed-end investment company, authorised by the Guernsey Financial Services Commission. The company invests directly alongside established private equity firms worldwide, avoiding external management fees and carried interest on most direct investments. This fee-efficient structure aims to deliver superior shareholder returns by minimizing traditional private equity fee burdens. NB Alternatives Advisers LLC, a wholly owned subsidiary of Neuberger Berman Group LLC, manages all NBPE investments.

NBPE’s investment philosophy focuses on capital appreciation through net asset value growth and bi-annual dividends. By investing directly rather than through fund-of-funds, NBPE benefits from reduced fees and enhanced value creation opportunities. Most direct investments incur no management fees or carried interest payable to third-party general partners, offering significant fee advantages compared to other listed private equity companies. This model addresses the fee-related challenges that often diminish long-term investor returns.

Background on Neuberger Berman Group

Founded in 1939, Neuberger Berman Group LLC is an employee-owned, private investment manager with nearly 90 years of experience. As of 31 March 2026, it managed approximately $567 billion across equities, fixed income, private markets, real estate, and hedge funds for global clients. Operating in 26 countries with around 3,000 employees, it is a major global asset manager emphasizing active management and fundamental research.

Neuberger Berman’s scale and independence provide NBPE with advantages in deal sourcing, due diligence, and portfolio management. The firm’s recent accolades include Best Asset Manager for Institutional Investors in the US by Crisil Coalition Greenwich and Best Place to Work in Money Management by Pensions & Investments for firms with over 1,000 employees, underscoring its commitment to client outcomes and employee engagement.

Share Pricing and Market Execution Details

The repurchase prices ranged from a314.25 to a314.38 per share, reflecting intraday London Stock Exchange fluctuations during the transaction. While the exact average price was not disclosed, the use of Jefferies International Limited ensured best execution and transparent pricing.

Buybacks below net asset value per share can enhance remaining shareholders’ net asset value, while those above may dilute it. The immediate market impact was not publicly detailed. The buyback’s timing, following shareholder approval, demonstrates NBPE’s commitment to efficient capital allocation within authorized limits.

Regulatory Compliance and Shareholder Authorization

The buyback was conducted under shareholder authority granted at the 11 June 2026 annual general meeting, complying with UK listing rules requiring shareholder approval for significant repurchases. This governance ensures capital allocation decisions have explicit shareholder consent.

NBPE operates under Guernsey Financial Services Commission oversight, with required disclosures under UK Financial Conduct Authority rules to maintain market transparency. The agreement with Jefferies International Limited further ensures regulatory compliance during execution.

Treasury Shares and Capital Management Strategy

Post-cancellation, NBPE holds 3,150,408 Class A shares in treasury. Unlike cancelled shares, treasury shares can be reissued without additional shareholder approval within set limits, offering management flexibility for employee plans, acquisitions, or capital management. Treasury shares can also be used to manage net asset value volatility by repurchasing at discounts and reissuing at premiums.

This combination of cancelled and treasury shares reflects NBPE’s balanced capital structure management, optimizing permanent share capital reduction alongside retained issuance flexibility. The FCA mandates separate disclosure of these figures for accurate voting rights and share capital reporting.

Fee Structure and Market Positioning Advantages

NBPE’s key competitive advantage is its low-fee investment model, with most direct investments incurring no management fees or carried interest payable to third-party general partners. This contrasts sharply with traditional private equity funds that typically charge 0.75% to 1.5% management fees plus 20% carried interest, which can significantly erode returns over time.

Leveraging Neuberger Berman’s $567 billion platform, NBPE accesses co-investment opportunities on favourable terms, bypassing traditional fund structures. This fee efficiency is especially valuable amid growing investor focus on net-of-fee returns and fee compression trends in asset management, making NBPE an attractive option for long-term private equity exposure.

Investor Relations and Contact Details

NBPE provides dedicated investor relations support. The Investor Relations team can be contacted at +44 20 3214 9002 or via email at [email protected] for inquiries about operations, investments, or corporate actions. Oak Group, the UK-based administrator, is reachable at +44 1481 723450 or [email protected] for administrative matters. Multiple contact options highlight NBPE’s commitment to transparent shareholder communication.

The company’s Legal Entity Identifier (LEI) is 213800UJH93NH8IOFQ77, facilitating regulatory tracking and transparency in securities transactions. Investors seeking detailed information on the buyback or governance should contact the investor relations team.