NB Private Equity Partners Limited announced that as part of the continuing process of refreshing the Board, the company announced the following: Neuberger Berman has agreed to reduce its representation on the Board from two directors to one director. John Buser, Executive Vice Chairman of Neuberger Berman Private Equity, will not seek re-election to the Board at NBPE’s 2018 annual general meeting. As Mr. Buser however is an important member of the Private Equity investment team and Investment Committee at Neuberger Berman, he will remain closely involved in the portfolio management of NBPE. It is expected that the two new independent directors will join the Board before the end of this year. Talmai Morgan has been the Chairman of the Board since NBPE’s initial public offering in July 2007. Given this tenure, and in line with the UK Code of Corporate Governance, the Board has considered what would be the most appropriate succession plan. The Board believes that it is in the best interests of the Company and its shareholders that Mr. Morgan should continue as Chairman for the coming year to provide continuity during this period of the Board’s evolution. A new Chairperson however will be appointed before the 2019 Annual General Meeting and it is expected that one of the two new independent directors will assume these duties.