IN BRIEF: NB Distressed Debt Investment Fund weighs waiting for upside

NB Distressed Debt Investment Fund Ltd - Guernsey-incorporated closed-ended fund managed by ...

Alliance News 27 November, 2023 | 1:56PM
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NB Distressed Debt Investment Fund Ltd - Guernsey-incorporated closed-ended fund managed by Neuberger Berman; invests in distressed, stressed and special situation credit, with a focus on senior debt backed by hard assets - Reports net asset value per ordinary share on September 30 is USD0.7935, down from USD0.7959 on June 30, but up from USD7730 on December 31. Total NAV is USD12.2 million, up 1.7% from USD12.0 million on June 30. This is thanks to "a small increase in a containers and packaging investment", it says.

Fund has three class of shares - including extended life and new global shares - and all three are in "harvest period", as the company winds down. "Despite the [macroeconomic] uncertainty, the investment manager remains committed to realising the investments in an orderly manner and winding down the share class as soon as practicable. We have two investments which we believe may have material upside," the company says. "However, the timing of any upside remains uncertain and, as we continue to seek liquidity, we will weigh the benefit of the timing of returning cash to investors relative to realising any additional upside."

Current ordinary share price: USD0.70

12-month change: down 5.4%

By Tom Waite, Alliance News editor

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
NB Distressed Debt Ord 0.62 USD -1.59 -

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