Peter Von Lehe, managing director of Neuberger Berman and a member of NBPE’s Investment Committee, said the aim of the vehicle has been to commit capital steadily across investment cycles. Along with European and international funds, sectors of most interest to NBPE include secondaries, distressed funds and small-cap and mid-cap buyout funds. The vehicle also has a small appetite for venture capital funds.
NBPE, which is listed on both Euronext Amsterdam and the specialist fund market of the London Stock Exchange, is managed by the 50-person private equity investment team of
NB Private Equity Partners, previously known as
By sector, as of Jan. 31, large-cap buyout funds accounted for about 30 percent of the listed fund-of-funds’s portfolio; large-cap buyout co-investments, 3 percent; mid-cap buyout funds, 21 percent; mid-cap buyout co-investments, 9 percent; special situations funds, 26 percent; special situations co-investments, 1 percent; growth and venture capital funds, 8 percent; and secondary purchases, 2 percent. In terms of industry focus, energy and utilities accounted for about 18 percent of assets; financial services, 12 percent; consumer and retail, 11 percent; industrials, 10 percent; technology and IT 8, percent; health care 7, percent; communications and media 7, percent; business services 5, percent; transportation, 4 percent; and the remaining 18 percent are undisclosed investments.
Funds backed by NBPE in the United States include
Established in 1939, NBPE’s parent, Neuberger Berman, managed approximately $158 billion in assets as of 30 June 2009. The NB Alternatives group of Neuberger Berman manages more than $13 billion of client assets and includes private equity funds of funds, secondary and co-investment businesses, a funds of hedge funds business, the Alternative Investment Solutions Group and Capital Analytics.