Liquidation: NB Private Markets Fund III (Master) LLC

Form Type: N-8F

Filing Date: 2025-06-16

Corporate Action: Liquidation

Type: New

Accession Number: 000113322825006334

Filing Summary: NB Private Markets Fund III (Master) LLC is applying for deregistration as part of its decision to liquidate. The fund's board voted on June 13, 2025, to approve this liquidation process, and all assets have been distributed to the shareholders, with distributions made on June 9, 2025. The fund retains a small amount of cash, $55,987, to cover expected liabilities, which include legal expenses of $23,437 and administrative fees of $26,550. The fund has incurred a total of $5,000 in expenses related to the liquidation, primarily legal costs. There are no outstanding debts barring the identified liabilities, and no shareholders are left without their distributions in the liquidation process. The fund is not involved in any litigation or business activities besides winding down its affairs.

Form Type: N-CSR

Filing Date: 2025-05-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465925052321

Filing Summary: NB Private Markets Fund III (Master) LLC has filed a report for fiscal year ending March 31, 2025, including significant updates on its operations, investment performance, and a strategic pivot towards liquidation. The report highlights the decision to sell all underlying portfolio interests to institutional investors in secondary transactions, marking the commencement of the winding down of the fund. The fund generated a total return of -27.8%, with heavy depreciation primarily due to the timing and pricing of these secondary transactions. The document mentions ongoing market conditions with mixed economic growth and private equity activities, notably in deal investment and exit strategies, with significant performance implications. The winding down process will include the distribution of proceeds to investors and is expected to conclude in the second half of 2025, as determined by the investment committee's assessments of market conditions and fund maturity. The report also provides insights into the financial status of the fund, with net asset value per unit at $1,435.99 and a decline in total member equity down to $36,281,097 as of the reporting period.