Neuberger Berman Raises $1.1B For Credit Opportunities Fund

Sep 19 2017 | 7:40pm ET

Global investment manager Neuberger Berman has raised $1.1 billion in capital commitments for a new private credit opportunities fund, raising the AUM of its overall private capital business to $3.1 billion. 

The new fund, named the NB Private Equity Credit Opportunities Fund, was oversubscribed, the company said in a statement. Taking advantage of credit market dislocations, inefficiencies, and gaps in liquidity, the fund will invest in the secured and unsecured debt of private equity-backed companies, primarily in secondary market transactions.

A broad mix of global institutions including public and private pensions, insurance companies, and foundations from North America, Europe, and Japan backed the new fund. Including the new raise, Neuberger Berman manages approximately $3.1 billion of committed capital focused on investing in the credits of private-equity backed companies in both the primary issuance market and through secondary purchases. 

Neuberger Berman was founded in 1939 and manages some $271 billion across a wide range of equity, fixed income, private equity and hedge fund strategies for institutions and advisors worldwide. 

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