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Neuberger Berman announce the final close of NBCIP III
Neuberger Berman raises $1.5 billion from investors worldwide for third Global Private Equity Co-Investment Fund.
Neuberger Berman announce the final close of NB Strategic Co-Investment Partners III LP (NBCIP III), Neuberger Bermans third global private equity co-investment fund. NBCIP III was oversubscribed, closing on its hard cap of $1.5 billion and surpassing its target of $1.25 billion.
Neuberger Berman Private Equity has managed over $35 billion of commitments since inception through January 2016 across private equity fund investments in the primary and secondary markets, direct equity co-investments and debt investments in private equity owned companies and a number of specialty strategies including asset management minority stakes, brand royalties, European merchant banking and healthcare credit investments.
NBCIP III seeks to achieve strong risk-adjusted returns by investing directly into attractive deals alongside high-quality private equity firms in their core areas of expertise. It seeks to build a diversified portfolio of strategic co-investments primarily in buyouts and growth financings on a global basis across multiple industries.
We are delighted with client response to NB Strategic Co-Investment Partners III LP and their support for our investment approach of serving as a strategic partner to lead private equity firms, said David Stonberg, managing director and Global Co-Head of Private Equity Co-Investments. We will seek to invest in a diverse range of portfolio company investments across multiple industries, geographies, enterprise value sizes, transaction types, vintage years and high-quality lead managers, added David Morse, managing director and Global Co-Head of Private Equity Co-Investments.
NBCIP III is managed by six senior professionals with significant experience and a proven track record in private equity as co-investors. The team today manages a total of $4.8 billion of commitments investing in equity co-investments, since inception through January 2016.
NBCIP IIIs global investor base of approximately 30 institutional clients includes public pension plans, foundations, corporate pension plans, and financial companies. Investors are based globally, including Asia, Europe, Latin America and North America.
