NB Private Equity (LON:NBPE) is setting a high bar heading into 2025, with a mature portfolio primed for exits, a fast-tracked £123m buyback programme, and fresh capital earmarked for new investments. Analyst Mark Thomas of Harman & Co breaks down why this low-risk model is delivering high-quality returns including a stable 20% net base-case return, even as the wider PE market faces headwinds. In this short interview, Thomas outlines the structural advantages of NBPE’s co-investment platform, the company’s refreshed capital allocation strategy, and why the market may be undervaluing what’s actually a robust and flexible portfolio.
Key Moments:
- 00:25 – Report discussed: “2025 Capital Markets Day: Good Returns from Low-Risk PE Model”
- 01:17 – Five company takeaways including portfolio strength and exit readiness
- 02:39 – Harman & Co’s insights on superior risk-reward of co-investments
- 04:13 – 20% net base-case deal returns and the shift to value creation via operations
- 04:44 – £123m accelerated buyback and £100m in new investments
- 05:51 – Risks and market sentiment considerations
NB Private Equity is a London-listed investment company providing investors with access to a diversified portfolio of private equity co-investments, primarily in the mid-market.
