Neuberger Berman closes secondaries fund on $2.5bn

NB Secondary Opportunities Fund IV, which was launched in April 2016, raised 25% more than its predecessor, which closed in November 2013 on $2bn.

The firm recently made a primary commitment to the second mid-cap fund of Sino-Italian GP Mandarin Capital Partners, which held a final close in January 2016 on less than €200m. The firm has also previously made commitments to funds managed by GPs including Apax Europe, Carlyle Europe Partners and Endless, according to unquote” data.

Investors
NB Secondary Opportunities Fund IV attracted commitments from North America, Europe, Latin America and Asia. LPs include corporate and public pension plans, endowments, foundations, insurance companies, family offices and high-net-worth individuals.

Investments
The vehicle has a global remit and will seek secondary opportunities, including in private equity funds, direct investments and co-investments. The firm has offices in Europe, the US, Asia and South America.

People
Neuberger Berman – Brian Talbot, Tristram Perkins (global co-heads, secondary investing group); Ethan Falkove, Benjamin Perl (managing directors).

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• Secondaries