Neuberger Berman Shatters Fundraising Goals with $4 Billion Close for Secondaries Fund

In an impressive display of capital gathering, Neuberger Berman has closed its GP-led secondary fund, NB Strategic Capital Fund II, at an overwhelming $4 billion. This achievement is a significant step up from the fund’s initial target of $2.5 billion and is a fourfold increase in size from its predecessor, which itself raised a respectable $955 million last year. The firm also managed to scrap together additional capital for co-investment purposes alongside the new fund.

These efforts tap into a sustained appetite within the investor community for continuation vehicles. These tools allow investors to hold onto their assets for longer periods, while simultaneously helping generate liquidity for their limited partners (LPs). With over 40 single and multi-asset continuation fund transactions under its belt, Neuberger Berman has mobilised $15 billion in total transaction value.