Neuberger Berman closed its latest co-investment fund, NB Strategic Co-Investment Partners IV, with $2.1 billion.
The fund, which was oversubscribed, exceeded its fundraising target, spokesman Alexander Samuelson said in an email.
The new fund is 40% larger than the prior fund in the series, the $1.5 billion NB Strategic Co-Investment Partners III, which closed in December 2015.
The latest fund will invest in diversified portfolio of direct co-investments in buyout and growth equity transactions alongside private equity managers.
Investors in the new fund include $4.5 billion Vermont State Employees’ Retirement Systems, Montpelier.
Source: Pensions & Investments
Can’t stop reading? Read more
Blackstone taps bond market as private credit BDCs end issuance drought
Blackstone taps bond market as private credit BDCs end issuance drought Blackstone's private...
EQT raises the stakes with revised $12.3bn bid for Intertek
EQT raises the stakes with revised $12.3bn bid for Intertek EQT has tabled an improved takeover...
Temasek’s Azalea bets on evergreen structure to democratise private equity access
Temasek's Azalea bets on evergreen structure to democratise private equity access Azalea, a unit...