NB Strategic Capital Fund II also received additional capital commitments from its limited partners, according to a filing reviewed by Bloomberg News. The final amount exceeds the fund’s initial goal of $2.5 billion, as well as the size of its predecessor, which raised $955 million in 2020.
The fund has raised capital from investors in North America, Europe, Asia and Latin America, including corporate and public pension funds, insurance companies, family offices and wealthy individuals.
Continuation investment vehicles are gaining popularity as private equity firms look for ways to hold their best-performing assets longer while generating returns at a time when most investors are demanding their money back, putting pressure on new funds to be brought into the sector.
Neuberger Berman manages over $135 billion in private markets assets, spanning primary investments, co-investments, secondary investments, direct lending, capital solutions, and more. It includes over $20 billion in assets across its flagship secondary investment funds and other secondary vehicles.
Source: Bloomberg
