NB Private Equity Partners Monthly Net Asset Value Update for October 2009

2009-11-11 09:10:21 -
London, November , 11, 2009
11 November 2009

NB Private  Equity  Partners Limited  ("NBPE"  or "the  Company"),  a
closed-end private  equity fund  of funds  investment company,  today
announced an updated Net Asset Value ("NAV").

As of 31  October 2009,  NBPE's unaudited  NAV per  share was  $8.78,
representing an increase of  1.5% compared to  the unaudited NAV  per
share of $8.64 at 30 September 2009.

The value  of NBPE's  private equity  portfolio as  presented in  the
October 2009 monthly report was based on the following information:

  * 21% of the private equity fair value was held in credit-related
    fund investments that were re-valued as of 31 October 2009
  * 7% of the private equity fair value was held in publicly traded
    securities that were re-valued as of 31 October 2009
  * 32% of the private equity fair value was held in private equity
    funds using valuation information through 30 September 2009
  * 17% of the private equity fair value was held in private
    co-investments using valuation information through 30 September
    2009
  * 23% of the private equity fair value was held in private equity
    funds using valuation information through 30 June 2009

During October, NBPE's portfolio value increased due to $2.4  million
of unrealized  gains  on  credit-related fund  investments  and  $0.1
million of  positive foreign  exchange  adjustments. These  gains  in
value were offset  by $1.8  million of unrealized  losses related  to
public equity securities. In addition,  net unrealized gains of  $6.9
million were  attributable  to  the  receipt  of  Q3  2009  valuation
information for certain fund investments and private co-investments.

During October, NBPE agreed to co-invest alongside Neuberger Berman's
secondary fund in the purchase of a portfolio of private equity  fund
investments and co-investments at a discount to net asset value.  The
portfolio is  well  diversified  by asset  class,  vintage  year  and
sponsor, and will provide NBPE  with a total private equity  exposure
of $7.4 million. The transaction has not yet closed.

NBPE expects to issue an interim management report for the nine month
period ended  30  September 2009  later  this week.  The  Company  is
required  to  consider,  and   will  consider,  all  known   material
information  in   preparing   such   management   report,   including
information that may become known subsequent to the issuance of  this
monthly  report.  Accordingly,  amounts   included  in  the   interim
management report may differ from this monthly report.

NBPE also expects to continue  to provide regular NAV updates  within
seven business days of each month's end.

A breakdown of NBPE's NAV can be obtained in the October 2009 monthly
report,  which   is   published   on   the   Company's   website   at
www.nbprivateequitypartners.com.  The monthly  report should be  read
in conjunction with this announcement.

For further information, please contact:


NBPE Investor Relations        +1 214 647 9593

Financial Dynamics             +44 20 7269 7114
Rob Bailhache
Nick Henderson


About NB Private Equity Partners Limited
NBPE is a closed-end private equity fund of funds investment  company
admitted to trading  on Euronext  Amsterdam and  the Specialist  Fund
Market of  the  London  Stock  Exchange.  NBPE  holds  a  diversified
portfolio   of   private   equity   fund   investments   and   direct
co-investments selected  by the  NB Alternatives  group of  Neuberger
Berman, diversified  across private  equity asset  class,  geography,
industry, vintage year and sponsor.


This press release appears  as a matter of  record only and does  not
constitute an offer to sell or a solicitation of an offer to purchase
any security.

NBPE is established as a  closed-end investment company domiciled  in
Guernsey.  NBPE has  received the necessary  consent of the  Guernsey
Financial Services  Commission  and  the States  of  Guernsey  Policy
Council.  NBPE  is  registered  with  the  Dutch  Authority  for  the
Financial Markets as a collective  investment scheme which may  offer
participations in The  Netherlands pursuant  to article  2:66 of  the
Financial Markets Supervision  Act (Wet op  het financial  toezicht).
All investments are subject to risk. Past performance is no guarantee
of future returns.  The value of  investments may fluctuate.  Results
achieved in  the  past  are  no guarantee  of  future  results.  This
document is  not  intended to  constitute  legal, tax  or  accounting
advice  or  investment  recommendations.  Prospective  investors  are
advised to seek expert legal,  financial, tax and other  professional
advice before making any investment decision. Statements contained in
this document  that are  not historical  facts are  based on  current
expectations, estimates, projections, opinions and beliefs of  NBPE's
investment manager. Such statements involve known and unknown  risks,
uncertainties and other  factors, and  undue reliance  should not  be
placed thereon. Additionally, this document contains "forward-looking
statements." Actual events  or results or  the actual performance  of
NBPE may differ  materially from those  reflected or contemplated  in
such targets or forward-looking statements.

---END OF MESSAGE---

 hugin.info/137843/R/1354166/328232.pdf

 hugin.info/137843/R/1354166/328233.pdf


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.