NBPE Announces Appointment of New Non-Executive Director and Chairman Designate
23 September 2026
Neuberger Private Equity Partners appoints David MacLellan as Non-Executive Director and Chairman Designate
Neuberger Private Equity Partners Limited (“NBPE” or the “Company”), the $1.1bn1 FTSE 250 listed private equity investment company managed by Neuberger, today announces the appointment of David MacLellan as an independent Non-Executive Director and Chairman Designate. David will join the Board with effect from today and will succeed William Maltby as Chairman on 11th December 2026, following a transition period.
David has spent more than 35 years in private equity and fund management and also brings a wealth of investment trust experience to the Board. He is the Founding Partner and Chairman of RJD Partners, and the Non-Executive Chairman of Custodian Property Income REIT plc. He also currently serves as a Non-Executive Director of The Lindsell Train Investment Trust plc, Aquila European Renewables plc and J&J Denholm Limited. David will join the Nomination & Remuneration and Management Engagement Committees.
Previously, David was Non-Executive Chairman of Stone Group, Chairman of John Laing Infrastructure Fund and Group Managing Director of Murray Johnstone Limited.
William Maltby has been Chairman of NBPE since September 2019, having joined the Board six months earlier in March 2019.
The appointment follows a comprehensive search, as part of the Board’s succession process and was led by Caroline Chan, Chair of the Nomination & Remuneration Committee.
Wilken von Hodenberg, Senior Independent Director of NBPE, commented: “We are very pleased to appoint David as a Non-Executive Director and Chairman Designate. He has a wealth of experience and deep knowledge of the fund management, private equity and investment trust sectors, which will be hugely valuable to the Board. On behalf of the Board, I would like to thank William for his leadership and invaluable contribution to the Company over many years.”
David MacLellan, NBPE Chairman-Designate, said: “I am delighted to be joining the NBPE Board. The Company has a differentiated investment approach and a high-quality portfolio, and I look forward to working with the Board and Neuberger to build on NBPE’s progress and support the delivery of long-term returns for shareholders.”
William Maltby, Chairman of NBPE, said: “It has been a privilege to serve as Chairman for the past seven years. I am delighted to welcome David to the NBPE Board. He has a proven track record both as a chairman and non-executive director and I look forward to working closely with him to support his transition to Chairman.”
This announcement is made pursuant to Listing Rule 6.4.6R. There are no other details required to be disclosed under Listing Rule 6.4.8R.
For further information, please contact:
NBPE Investor Relations +44 20 3214 9002
Luke Mason NBPrivateMarketsIR@nb.com
Teneo +44 (0) 20 7260 2700
Tom Murray NBPE@teneo.com
Rob Yates
About Neuberger Private Equity Partners Limited
Neuberger Private Equity Partners invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of Neuberger Private Equity Partners. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. Neuberger Private Equity Partners seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.
LEI number: 213800UJH93NH8IOFQ77
About Neuberger
Neuberger was founded in 1939 to do one thing: deliver compelling investment results for our clients over the long term. This remains our singular purpose today, driven by a culture rooted in deep fundamental research, the pursuit of investment insight and continuous innovation on behalf of clients, and facilitated by the free exchange of ideas across the organization.
From offices in 39 cities[1] across 26 countries, Neuberger manages a range of equity, fixed income, private equity and hedge fund strategies on behalf of institutions, advisors and individual investors worldwide. With more than 780[1] investment professionals and over 2,900[1] employees in total, Neuberger has built a diverse team of individuals united in their commitment to client outcomes and investment excellence. Our culture has afforded us enviable retention rates among our senior investment staff and we are proud to have been ranked 1st by Pensions & Investments in their 2025 “Best Places to Work in Money Management” survey, where we have placed 1st in four of the last five years and finished in the top two for 12 consecutive years[2].
As a private, independent, employee-owned investment manager, Neuberger is structurally aligned with the long-term interests of our clients. We have no external parent or public shareholders to serve, nor other lines of business to distract us from our core mission. And with our employees and their families invested alongside our clients—plus 100% of employee deferred cash compensation directly linked to team and firm strategies—we are truly in this together.
For more information, please visit our website: www.nb.com/en/global/who-we-are.
Media Contacts:
US: Soogyung Jordan: Soogyung.Jordan@nb.com
EMEA: Fiona Kehily: Fiona.Kehily@nb.com
[1] Firm data reflects the collective data for the various subsidiaries of Neuberger Berman Group LLC as of 30 June 2026.
[2] Among organizations with over 1,000 employees by Pensions & Investments. For additional information on the criteria for the award, please visit https://www.pionline.com/awards/best-places-to-work-in-money-management/pi-best-places-to-work-2025…
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© 2026 Neuberger Berman Group LLC. All rights reserved.
This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.
NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE's investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains "forward-looking statements." Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.
1 Based on net asset value (unaudited) as of 31 August 2026
