Neuberger Berman Private Markets Access Fund Surpasses $1bn in Assets

Jun 21, 2024 | News

Neuberger Berman, an employee-owned, private, independent investment manager, announced its NB Private Markets Access Fund LLC has reached a significant milestone, surpassing $1bn in net assets.
Launched in January 2021, the NB Access Fund has grown consistently, highlighting both financial advisor and institutional investor demand for a differentiated, registered, evergreen private equity fund focused on direct private equity investments managed by an experienced and dedicated private equity team.

The NB Access Fund provides a broader universe of investors access to Neuberger Berman’s private equity co-investments and GP-led secondary private equity solutions. The Fund invests in institutional-quality direct investments alongside leading private equity managers. As of April 30, 2024, the portfolio includes 68 private equity investments alongside 55 unique, lead private equity sponsors.

With over 35 years of investing experience in private market and a deep understanding of evergreen strategies (managing over $7+ billion across 20 such vehicles), Neuberger Berman leverages its team of 410+ private market investment professionals globally to enhance deal flow, due diligence, and general partner relationships through its integrated platform of primary, secondary, and direct private equity investments. Building on more than 70 years of experience with registered funds, Neuberger Berman designed the Fund with an accessible structure that seeks to address the common challenges investors face with traditional private equity investments.

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The Fund’s structure reduces the operational complexity associated with traditional private equity investments and has benefits to investors including (i) lower investment minimums ($50,000) and eligibility requirements than most private equity funds, (ii) monthly closings that are fully funded upfront with no ongoing capital calls, (iii) liquidity via quarterly tender offers, (iv) simplified form 1099 tax reporting, and (v) a transparent fee structure with monthly reporting.

The Fund is available through various intermediaries and financial advisors, who play a key role in educating investors and properly allocating private markets assets within their clients’ portfolios.

“Given our focus on long-term capital appreciation and focus on value creation, we believe that the Fund’s portfolio is well positioned for future growth”, said Maura Reilly Kennedy, Managing Director, Neuberger Berman. “Financial advisors and institutions are recognizing the value of evergreen structures in private equity, particularly those that focused on direct investments. The NB Access Fund delivers the benefits of a diversified, direct focused portfolio in a flexible, investor-friendly format.”

 

Source: Yahoo Finance

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