Neuberger Berman said Wednesday that its third global private equity co-investment fund closed at its hard cap of $1.5 billion. The target of NB Strategic Co-Investment Partners III LP was $1.25 billion. NBCIP III seeks to invest in deals alongside private equity firms in their core areas of expertise. Investors of the fund include approximately 30 institutional clients includes public pension plans, foundations, corporate pension plans, and financial companies.
NEW YORK, Jan. 20, 2016 /PRNewswire/ — Neuberger Berman, a private, independent, employee-owned investment manager, is pleased to announce the final close of NB Strategic Co-Investment Partners III LP (“NBCIP III”), Neuberger Berman’s third global private equity co-investment fund. NBCIP III was oversubscribed, closing on its hard cap of $1.5 billion and surpassing its target of$1.25 billion.
NBCIP III seeks to achieve strong risk-adjusted returns by investing directly into attractive deals alongside high-quality private equity firms in their core areas of expertise. It seeks to build a diversified portfolio of strategic co-investments primarily in buyouts and growth financings on a global basis across multiple industries.
NBCIP III is managed by six senior professionals with significant experience and a proven track record in private equity as co-investors. The team today manages a total of $4.8 billion of commitments investing in equity co-investments, since inception through January 2016.
NBCIP III’s global investor base of approximately 30 institutional clients includes public pension plans, foundations, corporate pension plans, and financial companies. Investors are based globally, including Asia, Europe, Latin America and North America.
“We are delighted with client response to NB Strategic Co-Investment Partners III LP and their support for our investment approach of serving as a strategic partner to lead private equity firms,” said David Stonberg, managing director and Global Co-Head of Private Equity Co-Investments. “We will seek to invest in a diverse range of portfolio company investments across multiple industries, geographies, enterprise value sizes, transaction types, vintage years and high-quality lead managers,” added David Morse, managing director and Global Co-Head of Private Equity Co-Investments.
About Neuberger Berman Private Equity
Neuberger Berman Private Equity is a leading global private equity investor with nearly 30 years of experience and has managed over$35 billion of commitments since inception through January 2016 across (i) private equity fund investments in the primary and secondary markets, (ii) direct equity co-investments and debt investments in private equity owned companies and (iii) a number of specialty strategies including asset management minority stakes, brand royalties, European merchant banking and healthcare credit investments. Its dedicated team of approximately 100 investment professionals has a global presence with offices in the U.S., Europe,Asia and South America. Neuberger Berman Private Equity has committed approximately $2 billion on average annually to private equity funds and direct investments. For more information, please visit our website at www.nb.com.
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 $237 billion in client assets as of September 30, 2015. For more information, please visit www.nb.com.
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