Liquidation: NB Private Markets Fund III (TI) LLC

Form Type: N-8F

Filing Date: 2025-06-16

Corporate Action: Liquidation

Type: New

Accession Number: 000113322825006332

Filing Summary: NB Private Markets Fund III (TI) LLC has applied for deregistration due to liquidation. The decision was approved by the fund's board of directors on June 13, 2025. The fund distributed assets to shareholders on June 9, 2025, on a net asset basis and pro rata based on share ownership. The fund has retained $27,151 in cash to cover estimated liabilities, including legal and administrative fees totaling approximately $21,151. There are no remaining shareholders who have not yet received distributions. The fund is not involved in any litigation and is not engaging in any business activities beyond winding up its affairs.

Form Type: N-CSR

Filing Date: 2025-05-23

Corporate Action: Liquidation

Type: New

Accession Number: 000110465925052365

Filing Summary: NB Private Markets Fund III (TI) LLC filed its Form N-CSR for the fiscal year ended March 31, 2025, reporting significant changes in its financial landscape as a result of winding down operations. The Master Fund sold all its underlying portfolio interests to various institutional investors in secondary transactions starting October 2024. This decision aimed to maximize returns for investors and distribute proceeds effectively. The fund reported a total return of -26.97% for the year, significantly influenced by the secondary sales, where 16 out of the remaining 18 holdings depreciated in value. The total net asset value per unit fell to $1,135.06. Notably, the fund's liquidation process began as part of its planned exit strategy, which comes in conjunction with the board's recent decision to extend the fund's term by two years to October 25, 2026. Investment activity in the private equity market showed recovery with increasing deal counts and volumes, but the fund has faced pressures in valuations and raising new capital due to regulatory and economic uncertainties. The financial statements included various components like the statement of assets and liabilities, income statements for operations, and historical performance comparisons, underscoring challenges in achieving growth amidst liquidity constraints. The document detailed fund governance, investment strategies, and provided a comprehensive financial overview in line with SEC requirements for registered management investment companies.