Neuberger has partnered with Tailwind Capital to launch a single-asset continuation vehicle for Axis Portable Air.

The firm is acting as the sole lead investor in the transaction, which provides additional capital and extended ownership duration to support the next phase of growth for the asset. Financial terms were not disclosed.

Moreover, the deal offers existing investors in Tailwind-managed funds the option to either realise liquidity or maintain exposure through the continuation structure, highlighting the flexibility increasingly embedded in private equity secondaries.

Axis Portable Air, a provider of temporary climate control and restoration equipment, has been identified as a high-conviction asset within Tailwind’s portfolio, supporting the rationale for the continuation vehicle.

Boriana Karastoyanova, Managing Director at Neuberger, said: “We are delighted to partner with Tailwind and the strong leadership team at Axis to support their continued success.”

“This transaction demonstrates our approach to investing in high-quality, market-leading companies with strong competitive positions and sustainable long-term growth,” added Michael Pan, Managing Director at Neuberger.

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