Neuberger Berman Announces Close Of Fourth Co-Investment Fund Above Target
Jan 13, 2021, 08:30 ET
NEW YORK, Jan. 13, 2021 /PRNewswire/ -- Neuberger Berman, a private, independent, employee-owned investment manager, is pleased to announce NB Strategic Co-Investment Partners IV LP ("Fund IV") closed above its target on over $2.1 billion of commitments.
Fund IV will seek to build a diversified portfolio of direct co-investments in buyout and growth equity transactions alongside high quality private equity sponsors. The successful fundraise demonstrates the continued growth of Neuberger Berman's co-investment strategy, which has deployed over $11.5 billion into direct co-investment transactions since its inception in 2005.
Neuberger Berman's private equity platform and well-established relationships with best-in-class private equity managers provide access to attractive investment opportunities. Neuberger Berman manages over $90 billion1 of committed capital to private equity.
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.
Fund IV will be deployed by a global team of over 50 investment professionals, including a senior team that has worked together for over a decade.
David Stonberg, Global Co-Head of the Co-Investment business at Neuberger Berman stated, "We are enormously grateful to our investors for their support and trust. Our experienced global investment team, differentiated sourcing, and execution capabilities allows Neuberger Berman to be a preferred partner in private equity."
David Morse, also Global Co-Head of the Co-Investment business at Neuberger Berman said, "We understand that the foundation of Neuberger's Co-Investment business is our close relationships with our global private equity sponsors. From our very first days, our model has been to be a highly responsive, value-added co-investor who exists to facilitate the execution of our GP partners' objectives while allowing them to execute on their singular vision for a given portfolio company."
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 24 countries, Neuberger Berman's diverse team has over 2,300 professionals. For seven consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. The firm manages $374 billion in client assets as of September 30, 2020. For more information, please visit our website at www.nb.com.
All Neuberger Berman information is as of September 30, 2020 unless otherwise indicated and is subject to change without notice. Firm data, including employee and assets under management figures, reflects collective data for the various affiliated investment advisers that are subsidiaries of Neuberger Berman Group LLC. Firm history/timeline includes the history of all firm subsidiaries, including predecessor entities and acquisitions.
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Media Contacts:
Alexander Samuelson, 212 476 5392, [email protected]
1As of September 30, 2020. Represents aggregate committed capital since inception in 1987, including commitments in the process of documentation or finalization. Includes estimated allocations of dry powder for diversified portfolios consisting of primaries, secondaries, and co-investments. Therefore, amounts may vary depending on how mandates are invested over time.
SOURCE Neuberger Berman
