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Laxman Pai, Opalesque Asia: Neuberger Berman, an American private, independent, employee-owned investment management firm, clinched its second strategic capital fund after securing just over $4 billion in capital commitments.
The new vehicle, called NB Strategic Capital Fund II, has surpassed its initial target of $2.5 billion and is four times the size of its predecessor, Fund I, which closed at $955 million in 2020. The firm also raised additional capital to co-invest alongside Fund II, according to a press release from the New York manager.
Additional capital has been allocated by limited partners (LPs) to co-invest alongside the fund which is focused on general partner-led secondary investments.
The Fund's diverse investor base spans North America, Europe, Asia, and Latin America, featuring corporate and public pension plans, endowments, foundations, insurance companies, family offices, and high-net-worth individuals.
Tristram Perkins, Global Co-Head of Secondaries at Neuberger Berman, said, "We are grateful to both existing and new investors for the confidence they have placed in our team and the support they have shown us. We are excited by the market opportunity in GP-led secondaries, which continues to grow rapidly, and we believe will continue to be an important source of liquidity for private markets and attractive investment opportunities for our investors."
According to the release, Neuberger Berman is a highly experienced and scaled inve...................... To view our full article Click here
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