Neuberger Berman’s third global private equity co-investment fund has closed at its hard cap of USD1.5 billion. The target of NB Strategic Co-Investment Partners III (NBCIP III) was USD1.25 billion.
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.
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 USD4.8 billion of commitments investing in equity co-investments, since inception through January 2016.
NBCIP III’s 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.
“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,” says 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,” adds David Morse, managing director and Global Co-Head of Private Equity Co-Investments.
