Neuberger Berman raises $4.9bn for fifth global private equity secondary fund

Neuberger Berman, a private, independent, employee-owned investment manager, closes NB Secondary Opportunities Fund V LP, the fifth global private equity secondary fund

SOF V closed at $4.9bn, surpassing its target of $3.0bn.

It is the successor to NB Secondary Opportunities Fund IV LP, which had commitments of $2.5bn.

SOF V’s diverse investor base includes corporate and public pension plans, sovereign wealth funds, endowments, foundations, insurance companies, family offices, and high net worth individuals. Investors are global, including from North America, Europe, Asia and Latin America.

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The fund will be led by the same senior leadership team as SOF IV, consisting of Peter Bock, Ethan Falkove, Frank Guglielmo, Boriana Karastoyanova, Victor Ko, Philipp Patschkowski, Tristram Perkins, Ben Perl and Brian Talbot.

Commenting on the closing, Tristram Perkins, Global Co-Head of Secondaries, said, “We are grateful to both existing and new investors for the confidence they have placed in our team and the support they have shown us. We are excited by the market opportunity, which continues to grow rapidly across both traditional LP and complex GP-led secondaries. We remain focused on delivering long-term results for our limited partners.”

Brian Talbot, Chairman and founding member of the team, added, “Our team, which continues to grow globally, has decades of experience providing tailored, bespoke liquidity solutions for both limited partners and general partners and we are proud of the consistent, targeted investment approach to secondary investing we have utilized dating back to 1991.”

Source: PR Newswire

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