Neuberger Berman Raises $2.5 Billion for Fourth Global Private Equity Secondary Fund
Alexander Samuelson, 212 476 5392, Alexander.Samuelson@NB.com
(Europe) Joanna Pope, 44 203 214 9087, Joanna.Pope@nb.com
New York, January 5, 2017 — Neuberger Berman, a private, independent, employee-owned investment manager, is pleased to announce the final close of NB Secondary Opportunities Fund IV LP (“SOF IV”), Neuberger Berman’s fourth global private equity secondary fund. SOF IV closed at $2.5 billion, surpassing its target of $2.0 billion. SOF IV, which launched in April 2016, is the successor to NB Secondary Opportunities Fund III LP, which had commitments of $2.0 billion.
SOF IV seeks to achieve attractive risk-adjusted returns through the purchase of seasoned private equity investments from investors seeking liquidity. SOF IV has a global mandate and will pursue secondary opportunities in private equity funds, direct investments, co-investments and structured private equity opportunities.
SOF IV’s investment team is led by Brian Talbot, Tristram Perkins, Ethan Falkove and Benjamin Perl. The team has significant secondary experience and a proven track record dating back to 1991. The investment team leverages a large pool of talent within Neuberger Berman’s over $40 billion private equity platform, which includes approximately 110 investment professionals in the U.S., Europe, Asia and South America.
SOF IV’s diverse investor base includes corporate and public pension plans, endowments, foundations, insurance companies, family offices and high net worth individuals. Investors are global, including from North America, Europe, Latin America and Asia.
Brian Talbot and Tristram Perkins are global co-heads of Neuberger Berman’s secondary investing group. “We are enormously appreciative of our investors’ trust and strong support of SOF IV,’’ said Mr. Talbot. Mr. Perkins added “Investors appreciate our ability to leverage the global investment sourcing, due diligence and valuation resources of a $255 billion asset management firm, as well as our focus on the secondary middle market and the growing opportunity in GP-led secondary transactions.”
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 19 countries, Neuberger Berman’s team is more than 1,900 professionals and the company was named by Pensions & Investments as a Best Place to Work in Money Management for four consecutive years. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $255 billion in client assets as of September 30, 2016. For more information, please visit our website at www.nb.com.
All information is as of September 30, 2016 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 dates back to the 1939 founding of Neuberger & Berman (the predecessor to Neuberger Berman LLC).
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