NB Private Equity Partners’ (LON:NBPE) mature portfolio, resilient 9% EBITDA growth and accelerated buyback plans are all in focus as Hardman & Co analyst Mark Thomas explains why realisations could improve despite short-term market noise. The discussion also covers dry powder, AI-driven efficiency gains, continuation funds, dividend policy and the key risks investors should watch.
Key Moments
00:04 — Mark Thomas joins to discuss NB Private Equity Partners
00:22 — Why the Hardman report sits behind a standard investment disclaimer
00:48 — The key message from Hardman’s latest NBPE results report
01:00 — 9% EBITDA growth underpins resilient portfolio performance
01:21 — Why NAV growth lagged EBITDA growth
01:36 — A mature portfolio and improving conditions for realisations
02:04 — Five drivers behind Hardman’s confidence in medium-term exits
02:12 — Why NBPE’s portfolio is exit-ready
02:23 — Dry powder and larger funds as natural buyers
02:57 — GPs face growing pressure to deliver liquidity
03:04 — How AI efficiency gains could support private equity returns
03:30 — Continuation funds and new exit routes
03:39 — Why realisations may remain lumpy quarter to quarter
04:09 — NBPE’s updated capital allocation framework
04:16 — Acceleration of the $120m buyback programme
04:26 — Increased allocation to new investments
04:41 — Dividend policy targeting at least 3% of NAV
04:53 — Further $120m allocated to buybacks in June 2026
05:04 — Buybacks total $240m over 15 months, equal to 19% of NAV
05:17 — Key risks facing NBPE and the listed private equity sector
NB Private Equity Partners is a listed private equity investment company providing shareholders with access to a diversified portfolio of direct investments in private companies, primarily alongside leading private equity sponsors.