Neuberger Berman Group has held a final close of NB Strategic Co-Investment Partners Fund II LP (“Fund II”), Neuberger Berman’s second global private equity co-investment fund. Fund II was oversubscribed, closing on $1.1 billion and surpassing its target of $750 million. The firm’s prior co-investment fund, NB Strategic Co-Investment Partners Fund I LP (“Fund I”), closed in 2006 with $1.6 billion of investor commitments.
“We are delighted with client response to Fund II and their support for our investment approach of serving as a strategic partner to leading private equity firms,” said David Stonberg, managing director and co-head of the team managing Fund I and II.
Fund II seeks to invest directly into transactions alongside private equity firms in their core areas of expertise. To date, Fund II has made nine investments totaling approximately $185 million and continues to experience strong deal flow.
“We estimate Fund II will have in excess of 30 portfolio company investments across multiple industries, geographies, enterprise value sizes, transaction types, vintage years and premier lead managers,” said David Morse, managing director and co-head of the team.
Neuberger Berman is a private, independent, employee-controlled investment manager. Founded in 1939, the company invests in equities, fixed income, hedge funds and private equity, and had $205 billion in assets under management as of December 31, 2012. Neuberger Berman is headquartered in New York (www.nb.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 3-12-13
