Insight

Neuberger Berman racks up $4.9bn for fifth secondary fund

NB's fourth secondary fund closed on $2.5 billion in January 2017.

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  • SOF V’s investor base includes corporate and public pension plans, sovereign wealth funds, endowments, foundations, insurance companies, family offices, and high-net worth individuals
  • Goodwin Procter LLP served as legal counsel to Neuberger Berman
  • Founded in 1938, Neuberger Berman manages $418 billion in client assets as of June 30, 2022

Neuberger Berman has closed its fith secondary fund at $4.9 billion, beating its $3 billion target.

NB’s previous secondary fund closed on $2.5 billion in January 2017.

SOF V’s investor base includes corporate and public pension plans, sovereign wealth funds, endowments, foundations, insurance companies, family offices, and high net worth individuals.

Goodwin Procter LLP served as legal counsel to Neuberger Berman.

On the fundraising, Tristram Perkins, global co-head of secondaries, said in a statement, “We are grateful to both existing and new investors for the confidence they have placed in our team and the support they have shown us. We are excited by the market opportunity, which continues to grow rapidly across both traditional LP and complex GP-led secondaries. We remain focused on delivering long-term results for our limited partners.”

Founded in 1938, Neuberger Berman manages $418 billion in client assets as of June 30, 2022.