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Global Private Equity Access Fund

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NB Global Private Equity Access Fund
Providing Broad Access to High-Quality Private Equity in an Evergreen Structure
FUND NAV
$89mn
As of 30/4/2024

This is a marketing communication. Please refer to the prospectus/Information document of the Alternative Investment Fund (“AIF”) and to the Key Information Document (“KID”) before making any final investment decisions.

RISK CONSIDERATION An investment in the NB Global Private Equity Access Fund (“the Fund”) involves a high degree of risk suitable only for those investors who have the financial sophistication and expertise to evaluate the merits and risks of such an investment. There can be no assurance or guarantee that the Fund’s objectives will be achieved or that investors will receive any return on their investments in the Fund. See Summary Of Risk Factors below.

Overview
Evergreen, diversified portfolio of attractive direct private equity investments
Access to High-Quality Private Equity
Invest alongside premier private equity managers in opportunities traditionally limited to large, institutional investors
Simplified Structure
Low initial investment and fully funded upon subscription
Monthly Subscriptions
Simple subscription process, and available for direct and platform trading across several platforms
NAV
Share class ISIN number Restricted Launch date NAV per share as of 30.04.24 Last Period YTD Since Inception LTM
Share class A USD LU2496021168 No 2/29/2024 9.9847 -0.35% -0.15% -0.15% n/a
Share class E AUD LU2545630134 Yes 4/28/2023 11.1407 0.94% 7.61% 11.41% 11.41%
Share class I EUR LU2496022059 No 2/28/2023 10.8567 1.17% 4.88% 8.57% 11.86%
Share class I USD LU2496020947 No 9/29/2023 10.7305 0.15% 1.44% 7.30% n/a
Share class IA USD LU2496021085 No 7/31/2023 10.7467 0.19% 2.01% 7.47% n/a
Share class LA USD LU2659193168 Yes 3/29/2024 9.9282 -0.72% -0.72% -0.72% n/a
Share class LI USD LU2659193242 Yes 3/29/2024 9.9356 -0.64% -0.64% -0.64% n/a
Share class LM USD LU2659193325 Yes 3/29/2024 9.9241 -0.76% -0.76% -0.76% n/a
Share class S1 USD LU2496021838 Yes 12/30/2022 11.1223 0.25% 2.44% 11.22% 10.16%
Share class Z EUR LU2496022562 Yes 2/28/2023 11.1659 1.41% 6.18% 11.66% 14.83%
Share class Z GBP LU2545630217 Yes 1/31/2023 11.0144 1.30% 4.49% 10.14% 11.25%
Share class Z USD LU2496021598 Yes 12/30/2022 11.2377 0.25% 2.57% 12.38% 11.19%

Note:
* Restricted share classes are below: S1, Z, E, LA, LM, LI
** All share classes are classified as "open" to new investment unless otherwise indicated with "closed"

Simplified Fund Structure
Addressing Common Barriers for Individual Investors Accessing Private Equity
NB GLOBAL PRIVATE EQUITY ACCESS FUND
TRADITIONAL PRIVATE EQUITY FUND
Low
Minimum subscription starting from €10,000 / $10,000 for eligible investors1
MINIMUMS &
ELIGIBILITY
High
$500,000 – $5,000,000
Qualified Purchasers
Fully funded upon subscription
Subscription funded upfront with single initial investment
FUNDING
TIMING
Multiple capital calls
Uncertain timing, difficult for cash flow planning
Evergreen
Monthly subscriptions
SUBSCRIPTION
AVAILABILITY
Limited
New fund subscription every three to five years
Monthly
Liquidity on a monthly basis subject to limitations to protect investors
LIQUIDITY
None
10- to 14-year terms, with possible extensions and no liquidity
Simplified
File in tax residence like any other investment in UCITS
TAX REPORTING*
Complex
Multiple tax statements and need to file in multiple tax jurisdictions
Eliminates single GP risk
Exposure to multiple high-quality lead sponsors
DIVERSIFICATION
Limited
Single lead manager

For illustrative purposes only. *Investors are urged to consult with their own tax and legal advisors about the tax implications of investing in the Fund.

Attractive Investment Strategy
Majority of Exposure Expected to Be Invested in Co-investments, with Meaningful Allocation to Secondaries
Co-investments
Offer long-term capital appreciation, aim to increase capital efficiency and decrease fund-level economics
Secondary investments
Offer long-term capital appreciation with early cash flow benefits
Introduction to the NB Global Private Equity Access Fund
Why Partner with Neuberger Berman?
Neuberger Berman’S Unique Place in the PE Ecosystem
Anthony Tutrone, Global Head of NB Alternatives, discusses how NB Private Markets‘ broad range of strategies and capabilities help investors meet their private equity needs.
Global Private Equity Access Fund Advantage
Integrated Platform Providing Access to Leading Private Equity Managers
~$115bn
In Capital Commitments2
PLATFORM 1
35+
Years of Investing
★★★★★
Top Scores by UN PRI for Private Equity ESG Integration3
22+
Average Years’ Experience of Senior Investment Team4
PEOPLE
98%
Employee Retention Rate5
415+
Dedicated Private Markets Professionals6
7,900+
Underlying Private Companies7
PARTNERSHIP WITH GPsPARTNERSHIP
745+
Private Equity Fund Investments8
410+
Private Equity Fund Advisory Board Seats9
Documents
Insights
Private Markets in Volatile Times
David Stonberg, Managing Director speaks to James Dunn from The Inside Network on private markets in volatile times.
Watch Now
Navigating Value Creation in Private Equity
PE managers have several levers they can pull to create value, but which are the most effective today, and what does that mean for investors?
Read More
Summary of Risk Factors

Prospective investors should be aware that an investment in NB Global Private Equity Access Fund (the “Fund”) is speculative and involves a high degree of risk that is suitable only for those investors who have the financial sophistication and expertise to evaluate the merits and risks of an investment in the Fund and for which the Fund represents a small portion of their complete investment program. An investment should only be considered by persons who can afford a loss of their entire investment. The attention of investors is drawn to the fact that the Fund may invest in very illiquid assets. The Fund offers very limited redemption rights and there may be a suspension of the ability to redeem in case of redemption requests exceeding certain amounts. Redemption fees may also apply. Full redemption of the investor’s position can extend on several years. In light of the above specific features, the Fund is not suitable for investors who need liquidity with respect to their investments. The following is a summary of only certain considerations and is qualified in its entirety by the Prospectus and Key Information Document and prospective investors are urged to consult with their own tax, financial and legal advisors about the implications of investing in the Fund. Fees and expenses can be expected to reduce the Fund’s return. Please refer to the KID risk profile.

The Fund may make use of financial derivatives instruments which can involve significant risks of loss.

Market Conditions. The Fund’s strategy is based, in part, upon the premise that investments will be available for purchase by the Fund at prices that the Fund considers favourable. To the extent that current market conditions change or change more quickly than Neuberger Berman Group, LLC or an affiliate (collectively, “Neuberger Berman”) currently anticipates, investment opportunities may cease to be available to the Fund or investment opportunities that allow for the targeted returns described herein may no longer be available.

No Assurance of Investment Return. There can be no assurance or guarantee that the Fund’s objectives will be achieved, that the past, targeted or estimated results presented herein will be achieved, or that investors in the Fund (“Investors”) will receive any return on their investments in the Fund. The Fund’s performance may be volatile. The investments made by the Fund will sometimes involve a high degree of business and financial risk. An investment should therefore only be considered by persons who can afford a loss of their entire investment. Past activities of investment entities sponsored by Neuberger Berman provide no assurance or guarantee of future results. No assurance or guarantee can be given that investments meeting the Fund’s investment objectives can be acquired or disposed of at favourable prices or that the market for such investments (or market conditions generally) will either remain stable or, as applicable, recover or improve, since this will depend upon events and factors outside the control of the Fund’s investment team. Notwithstanding anything in this presentation to the contrary, Neuberger Berman, may vary its investment processes and/or execution from what is described herein.

Legal, Tax and Regulatory Risks. Legal, tax and regulatory changes (including changing enforcement priorities, changing interpretations of legal and regulatory precedents or varying applications of laws and regulations to particular facts and circumstances) could occur that may adversely affect the Fund or its shareholders.

Use of Borrowing and Leverage. The Fund may employ leverage and engage in borrowing in connection with its investment activities or participate in investments with highly leveraged capital structures. Although the use of leverage may enhance returns and increase the number of investments that can be made, leverage also involves a high degree of financial risk and may increase the exposure of such investments to factors such as rising interest rates, downturns in the economy, or deterioration in the condition of the assets underlying such investments. Moreover, the borrowings of the Fund may in certain cases be secured by the assets of the Fund, which may increase the risk of loss of such assets. Leverage may expose the fund to counterparty credit risk.

Highly Competitive Market for Investment Opportunities. The activity of identifying, completing and realizing attractive investments is highly competitive, and involves a high degree of uncertainty. There can be no assurance or guarantee that the Fund will be able to locate, consummate and exit investments that satisfy the Fund’s rate of return objectives or realize upon their values or that it will be able to invest fully its subscribed capital.

Reliance on Key Management Personnel. The success of the Fund will depend, in large part, upon the skill and expertise of certain Neuberger Berman professionals. In the event of the death, disability or departure of any key Neuberger Berman professionals, the business and the performance of the Fund may be adversely affected.

Potential Conflicts of Interest. The Board of Directors, the Alternative Investment Fund Manager, the Portfolio Managers, the Depositary, the Administrator and the other service providers of the Fund, and/or their respective affiliates, members, employees or any person connected with them may be subject to various actual or potential conflicts of interest in their relationship with the Fund.

Limited Liquidity. In certain circumstances, investments may become less liquid or illiquid due to a variety of factors including adverse conditions affecting a particular issuer, counterparty, or the market generally, and legal, regulatory or contractual restrictions on the sale of certain instruments. An investment in the Fund should be considered to be an illiquid investment because Shares are not generally transferable without the prior consent of the Board of Directors and the redemption rights of the Shareholders are restricted. In addition, transfer of the Shares may be affected by restrictions on resales imposed by applicable law. The Fund is not intended as a complete investment program and is designed only for persons who do not need liquidity with respect to their investments.

Valuation Risk. In light of the illiquid nature of the investments of the Fund, any valuation made of the NAV of the Shares or any of the investments will be based on the AIFM’s good faith determination as to the fair value of those investments. Valuations of investments used by the AIFM (and, accordingly, NAV per Share calculations used for subscriptions, redemptions and acquisitions) likely will not reflect the prices at which such investments are ultimately sold. Generally, neither redeeming Shareholders nor remaining Shareholders will have any recourse against the Fund, the AIFM, the Board of Directors or any of their respective affiliates if information available after a Valuation Date indicates that a prior NAV per Share was overvalued or undervalued.

Material, Non-Public Information. By reason of their responsibilities in connection with other activities of Neuberger Berman, certain employees may acquire confidential or material non-public information or be restricted from initiating transactions in certain securities. The Fund will not be free to act upon any such information. Due to these restrictions, the Fund may not be able to initiate a transaction that it otherwise might have initiated and may not be able to sell an investment that it otherwise might have sold.

Long-term nature. Investors should take note that the Fund is an illiquid investment and its investments are long-term in nature. The Fund is an open-ended vehicle. However, the Fund offers very limited redemption rights and there may be a suspension of the ability to redeem in case of redemption requests exceeding certain amounts. Redemption fees may also apply. Full redemption of the investor’s position can extend on several years. In light of the above specific features, the Fund is not suitable for investors who need liquidity with respect to their investments. The minimum required holding period for the Fund is ten years.

THE FOREGOING DOES NOT PURPORT TO BE A COMPLETE EXPLANATION OF THE RISKS AND CONFLICTS INVOLVED IN THIS OFFERING OR AN INVESTMENT IN THE FUND. POTENTIAL INVESTORS SHOULD READ THIS PRESENTATION, THE PROSPECTUS, THE KEY INFORMATION DOCUMENT AND THE SUBSCRIPTION AGREEMENT OF THE FUND IN THEIR ENTIRETY BEFORE DECIDING WHETHER TO INVEST IN THE FUND AND SHOULD CONDUCT THEIR OWN DILIGENCE OF THE OPPORTUNITY AND IDENTIFY AND MAKE THEIR OWN ASSESSMENT OF THE RISKS INVOLVED.

Investors are advised that only a small percentage of their overall investment portfolio should be invested in the Fund.

1. Subject to applicable laws and regulations in each relevant jurisdiction, as disclosed in the Fund’s subscription agreement.

2. As of March 31, 2024. Please note beginning December 31, 2023, NB Private Markets revised the Aggregate Committed Capital calculation methodology. As of December 31, 2023 and going forward, Aggregate Committed Capital represents total commitments to active vehicles (including commitments in the process of documentation or finalization) managed by NB Private Markets. Prior to December 31, 2023, Aggregate Committed Capital reflected total committed capital since inception in 1987, including liquidated vehicles. Using the previous methodology, NB Private Markets Aggregate Committed Capital was $123 billion as of December 31, 2023, broken down as follows: Primaries, $41 bn; Co-Investments, $36 bn; Secondaries, $20 bn; Private Debt, $16 bn; Capital Solutions, $6 bn; and Direct Specialty Strategies, $5 bn.

3. Awarded by UN-supported Principles for Responsible Investment. Please refer to the Awards Disclosures for more information on the PRI scores.

4. Represents Senior Investment Professionals (Senior Advisors, Managing Directors and Principals) within NB Private Markets, as of March 31, 2024.

5. Average annual retention from 2019 through December 31, 2023 of Senior Investment Professionals (Managing Directors and Principals) within NB Private Markets. Computed as number of departures over total number of senior investment professional senior team only.

6.On April 29, 2024, the management team of NB Renaissance Partners (“Renaissance”) entered into an agreement with Neuberger Berman Group LLC (“NB”) to transition from a minority to a majority owner in Renaissance, with NB becoming a minority shareholder. The transaction is expected to close by the end of the year subject to legal and regulatory approvals.

7. Represents active portfolio companies for PIPCO and Secondaries through September 30, 2023.

8. Primary and secondary fund commitments as of September 30, 2023. Includes active investments, which are defined as investments with net asset value greater than $0 (i.e. not fully realized), and funds that have not yet called capital as of the latest available quarter of performance.

9. Includes Limited Partner Advisory Committee seats and observer seats for the representatives appointed by the PIPCO Investment Committee and Secondaries Investment Committee since inception as of 31 December 2023.

The Fund does not seek to qualify for the purposes of the Sustainable Finance Disclosure Regulation (the “SFDR”) as a financial product that promotes environmental or social characteristics or one that has Sustainable Investment as its investment objective.

Investors who subscribe in a currency different from their local currency should note that the costs may increase or decrease as a result of currency and exchange rate fluctuations.