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Neuberger Berman raises $4.9bn for fifth PE secondary fund

Neuberger Berman, a private, independent, employee-owned investment manager, has held the final close of NB Secondary Opportunities Fund V LP (SOF V), the firm’s fifth global private equity secondary fund at $4.9 billion, surpassing its target of $3.0 billion. 

Neuberger Berman, a private, independent, employee-owned investment manager, has held the final close of NB Secondary Opportunities Fund V LP (SOF V), the firm’s fifth global private equity secondary fund at $4.9 billion, surpassing its target of $3.0 billion. 

It is the successor to NB Secondary Opportunities Fund IV LP, which had commitments of $2.5 billion.

SOF V’s diverse investor base includes corporate and public pension plans, sovereign wealth funds, endowments, foundations, insurance companies, family offices, and high net worth individuals. Investors are global, including from North America, Europe, Asia and Latin America.

The fund will be led by the same senior leadership team as SOF IV, consisting of Peter Bock, Ethan Falkove, Frank Guglielmo, Boriana Karastoyanova, Victor Ko, Philipp Patschkowski, Tristram Perkins, Ben Perl and Brian Talbot.

Goodwin Procter LLP served as legal counsel to Neuberger Berman.

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