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Neuberger Berman wraps up fourth co-investment fund above its $2bn target

Thursday, January 14, 2021

Laxman Pai, Opalesque Asia:

Neuberger Berman collected $2.1 billion-plus for its fourth fund - NB Strategic Co-Investment Partners IV.

The fund, which was oversubscribed, exceeded its fundraising target, said a press release from the private, independent, employee-owned investment manager.

"Fund IV is backed by a global investor base that includes public and corporate pension plans, insurance companies, and other financial institutions, endowments, foundations, and family offices. Investors are represented across a broad geographic range including North America, Europe, Latin America, Asia, and the Middle East," it said. Limited partners in Fund IV include more than 30 institutional investors.

Investors in the new fund include $4.5 billion Vermont State Employees' Retirement Systems, Montpelier.

NB Strategic Co-Investment Partners IV will invest in a diversified portfolio of direct co-investments in buyout and growth equity transactions alongside private equity managers.

The new fund is 40% larger than the prior fund in the series, the $1.5 billion NB Strategic Co-Investment Partners III, which closed in December 2015.

"Since its launch in 2005, Neuberger Berman's co-investment strategy has invested $11.5 billion in co-investment transactions," said the release.

David Morse, Global Co-Head of the Co-Investment business at Neuberger Berman said, "We understand that the foundation of Neuberger's Co-Investment business is ......................

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