Neuberger Berman, a global, private, employee-owned investment manager, has closed its fund NB Private Debt V, raising $7.3bn inclusive of leverage, exceeding its original target. The Fund aims to invest in senior secured, first-lien and unitranche loans to US private equity-owned companies. Its investor base is comprised of a range of global institutions from North America, South America, Europe, the Middle East and Asia.
Launched in 2013, Neuberger’s private debt business manages $24.3bn across evergreen and closed-end funds; leads or co-leads 98% of originated loans; and has the capacity to commit over $800m per transaction. Including the fund, client capital dedicated to the strategy has increased by more than 81% in the past two years.
Neuberger’s private markets platform, established in 1987, manages $169bn in client capital, spanning private equity (primaries, secondaries, and co-investments), private debt, capital solutions and specialty strategies. Kirkland & Ellis served as legal counsel to the Fund.
