– Neuberger Berman, a private, independent, employee-owned investment manager, announced the final close of NB Strategic Capital Fund II (the “Fund”) at just over $4.0 billion in total capital commitments.
– Additional capital was committed by limited partners to co-invest alongside the Fund.
– The Fund surpassed its initial target of $2.5 billion and is a four-fold increase compared to NB Strategic Capital Fund I, which closed in 2020 at just over $955 million.
– The Fund’s investor base is diverse and global, spanning North America, Europe, Asia, and Latin America.
– Investors include 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, expressed gratitude to investors and highlighted the rapid growth and market opportunity in GP-led secondaries.
– Neuberger Berman has led or co-led over 40 single and multi-asset continuation fund transactions, totaling over $15 billion in cumulative transaction value.
– NB Strategic Capital Fund II is now one of the largest funds dedicated to the GP-led secondary market, which grew 44% in 2024, reaching $75 billion in transaction value.
– The Fund complements Neuberger Berman’s broader GP-centric strategy, enhancing deployment capabilities for leading GP-led continuation vehicle transactions.
– Ben Perl, Global Co-Head of Secondaries, emphasized the firm’s approach combining fundamental asset underwriting with global industry research and resources.
– Neuberger Berman manages over $135 billion in private markets assets across primaries, co-investments, secondaries, direct lending, capital solutions, and other strategies.
– Over $20 billion of these assets are in flagship private equity secondaries funds and other secondary vehicles.
