Neuberger Berman closed its new fund, Marquee Brands Partners LP, at $462 million, exceeding its $400 million target. The fund seeks to acquire U.S. and European brands, with strong consumer awareness and opportunities for growth. Marquee Brands has made two acquisitions to date in Bruno Magli®, an Italian footwear brand, and Ben Sherman®, a British fashion brand.
NEW YORK, Feb. 11, 2016 /PRNewswire/ — Neuberger Berman, a private, independent, employee-owned investment manager, is pleased to announce the close of Marquee Brands Partners LP, a $462 million fund that seeks to acquire high-quality, U.S. and European brands, with strong consumer awareness and opportunities for growth in various consumer sectors including apparel, footwear, accessories, health & beauty, entertainment, food & beverage and home products. The fund was oversubscribed, exceeding its target of $400 million. Marquee Brands has made two acquisitions to date in Bruno Magli®, the luxury Italian footwear brand, and Ben Sherman®, the iconic British fashion brand. Marquee’s global investor base is comprised of more than 20 institutions, including public and private pensions, insurance companies and foundations from North America, Europe, the Middle East and Japan.
Marquee’s investment team is led by Samuel Porat, a Managing Director of Neuberger Berman, and Zachary Sigel, a Principal of Neuberger Berman. Mr. Porat and Mr. Sigel also founded the fund’s operating subsidiary, Marquee Brands LLC along with its management and operating executives, Michael DeVirgilio and Cory M. Baker. Together they have assembled a team of experienced executives from the fashion, retail and licensing industries. “We believe that Marquee’s strategy of acquiring leading consumer brands with strong growth opportunities provides our investors with a potential attractive source of yield and capital appreciation,” saidSamuel Porat, adding that “our investors, faced with twin challenges of a volatile market and persistently low-rate environment, are seeking alternative sources of income and return and intellectual property such as consumer brands can benefit their investment portfolios.”
“We look forward to continuing to build a diversified portfolio of high-quality brands that we can grow organically through impactful marketing, geographic expansion and increased product offerings with our partners,” stated Zachary Sigel who also oversees Marquee’s acquisitions. “We believe the large committed capital base from our investors, Neuberger Berman’s global network, and our strong management team makes Marquee one of the best capitalized and strategically positioned competitors in the consumer brand acquisition, licensing and management business.”
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 2,100 professionals and the company was named by Pensions & Investments as a 2013, 2014 and 2015 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $240 billion in client assets as of December 31, 2015. For more information, please visit our website at www.nb.com.
About Marquee Brands LLC
Marquee Brands LLC is a brand acquisition, licensing and development company. Sponsored by Neuberger Berman Private Equity, a business of Neuberger Berman, one of the world’s leading employee-owned investment managers, Marquee Brands targets high quality brands with strong consumer awareness and long-term growth potential. Marquee Brands seeks to identify brands in various consumer product segments with the goal of expanding their reach across retail channel, geography and product category while preserving the brand heritage and enhancing the ultimate consumer experience. Through its global team of professionals and partners, Marquee Brands monitors trends and markets in order to grow and manage brands in partnership with retailers, licensees and manufacturers through engaging, impactful marketing and strategic planning. www.marqueebrands.com
All information is as of December 31, 2015 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).