Neuberger Private Equity Partners Limited (NBPE), the Guernsey-domiciled closed-end investment company focused on direct private equity investments, has announced the purchase of 12,005 Class A Shares on the London Stock Exchange on 9 November 2026. The buyback was executed under general shareholder authority granted on 11 June 2026 and pursuant to a share buy-back agreement with Jefferies International Limited. All purchased shares will be cancelled, reducing the total outstanding Class A Share count to 36,008,548, a figure investors and market participants must now use for voting rights calculations under FCA Disclosure Guidance and Transparency Rules.

Key Points

  • Neuberger Private Equity Partners Limited (NBPE), listed on the London Stock Exchange, domiciled in Guernsey
  • NBPE repurchased 12,005 Class A Shares on 9 November 2026, with all shares to be cancelled
  • Shares purchased at prices ranging from £15.00 to £15.08; outstanding Class A Shares now stand at 36,008,548
  • Investors should monitor further buyback activity under the existing shareholder authority and any changes to the total voting rights figure

NBPE Cancels 12,005 Class A Shares Bought at Between £15.00 and £15.08

The announcement confirms that NBPE transacted on the London Stock Exchange on 9 November 2026, acquiring 12,005 Class A Shares at a highest price of £15.08 and a lowest price of £15.00 per share. The shares carry ISIN GG00B1ZBD492. Crucially, the company has stated that all Class A Shares bought back will be cancelled rather than retained, distinguishing this from treasury share activity. The company also separately holds 3,150,408 Class A Shares in treasury, though those are not counted toward the voting rights figure that the market must reference under applicable FCA rules.

Outstanding Voting Rights Fall to 36,008,548 Following Cancellation

Following the cancellation of the repurchased shares, NBPE's total outstanding Class A Share count stands at 36,008,548. Under the FCA's Disclosure Guidance and Transparency Rules, this is the figure that shareholders and other market participants must use when assessing whether a notification obligation regarding their interest in the company has been triggered or changed. The company's treasury holding of 3,150,408 Class A Shares is excluded from this calculation, in line with standard UK regulatory practice for closed-end investment vehicles of this type.

Buyback Conducted Under June 2026 Shareholder Authority via Jefferies International

The share repurchase was carried out pursuant to a general authority that NBPE shareholders approved on 11 June 2026, and executed through a formal buy-back agreement with Jefferies International Limited acting as the company's broker. NBPE is managed by NB Alternatives Advisers LLC, an indirect wholly owned subsidiary of Neuberger Berman Group LLC, which is responsible for sourcing, executing, and managing the portfolio. NBPE's investment strategy focuses on direct private equity investments made alongside leading private equity firms globally, with the stated aim of capital appreciation through net asset value growth over time.

Fee-Efficient Structure and Bi-Annual Dividend Underpin NBPE's Listed Private Equity Proposition

NBPE differentiates itself within the listed private equity sector by structuring the vast majority of its direct investments with no management fee and no carried interest payable to third-party general partners, which the company states offers greater fee efficiency than comparable listed peers. The company also pays a bi-annual dividend, providing an income element alongside the primary objective of NAV growth. Investors may be watching whether continued buyback activity, funded within existing shareholder authority, reflects confidence in the discount to NAV at which NBPE's shares may be trading relative to its underlying portfolio.