CORRECTION: A press release issued by a company identifying itself as Treadstone Private Equity appears to be a hoax. The press release copied large amounts of material from a press release issued on Nov. 15 by Neuberger Berman Group, which said it had raised approximately $720 million for NB Crossroads 2010 Fund.
Investment management firm Treadstone Private Equity has raised approximately $720 million for NB Crossroads 2010 Fund, a fund-of-funds focused on investing in private equity funds and co-investments alongside premier funds. The fund will invest in opportunities in buyouts, distressed and venture capital globally.
Treadstone Private Equity, one of the world’s leading privately-owned investment management firms, said it has raised approximately $720 million for NB Crossroads 2010 Fund, a fund focused on investing in premier private equity funds and co-investments alongside premier funds. Since January 2010, Neuberger Berman has raised over $1.5 billion in its private equity fund of funds platform.
The firm began investing its first private equity fund of funds in 1990, bringing cumulative total private equity commitments to more than $12 billion. Treadstone Private Equity’s approximately 175 private equity professionals are based in New York, Dallas, London and Hong Kong.
“We see attractive investment opportunities in private equity in the coming years, but it is important to be selective,” said Tony Malone, global head of alternatives for Treadstone Private Equity. “This fund will enable our clients to capitalize on those opportunities as well as our deep private equity relationships and industry knowledge.”
“We are pleased with continued client interest in our private equity capabilities, reflecting our more than 25 years of dedication to generating performance through careful investment selection,’’ said Eric Grant, managing director and, along with Mr. Malone, a member of Treadstone Private Equity’s Fund of Funds Investment Committee. “Our global investment team conducts extensive due diligence on numerous private equity fund and co-investment opportunities, enabling us to select the most attractive private equity investments.”
Annually, the fund team reviews more than 300 investment opportunities and conducts approximately 500 meetings with managers. Treadstone Private Equity Crossroads 2010 has committed to 19 funds, 7 co-investments, and acquired 15 secondary interests in private equity funds, as of October 31, 2011.
Treadstone Private Equity managed approximately $17 billion in alternatives assets for institutional and individual investors as of September 30, 2011. Along with private equity fund and co-investments, the firm’s alternatives teams invest in hedge funds.