Key Takeaways
- • Neuberger Berman launched two new private equity funds—NB Direct Private Equity Fund 2024 and NB Global Private Equity Access Fund—designed to democratize access to private equity for retail investors and financial intermediaries, with capital raising for the Direct fund running through December 2024.
- • NB Direct Private Equity Fund 2024 offers diversified exposure across 30+ positions in direct co-investments spanning multiple sectors, geographies, company sizes, and value creation strategies, with a minimum investment of €25,000 for most share classes and a new Article 8 SFDR sustainability classification.
- • Neuberger Berman's Private Markets platform manages $129 billion in assets across 430+ professionals and deployed over $14 billion in co-investments, primary, secondary, and private debt investments during 2023, analyzing an average of 11 investment opportunities per week.
- • The NB Global Private Equity Access Fund offers a lower entry barrier at €10,000 minimum subscription with monthly redemption flexibility, positioning the firm to capture capital from "Main Street" qualified investors seeking private markets exposure.
- • The fund launches reflect Neuberger Berman's strategic shift toward evergreen solutions and European long-term investment vehicles (ELTIF) to expand intermediary-focused offerings and broaden institutional and retail access to traditionally exclusive private equity opportunities.
Summary
Neuberger Berman is expanding its private equity distribution strategy by launching two complementary funds aimed at financial intermediaries and individual investors. The NB Direct Private Equity Fund 2024 and NB Global Private Equity Access Fund represent the firm's continued effort to democratize access to private equity, a traditionally institution-dominated asset class.
The NB Direct Private Equity Fund 2024, which began capital raising in March 2023 with a subscription period extending through December 2024, offers investors broad diversification through a closed-end structure containing more than 30 direct co-investment positions across varying sectors, geographies, company sizes, and value creation strategies. Most share classes require a minimum investment of €25,000. A distinguishing feature is its Article 8 classification under the EU's Regulation on Sustainability-Related Disclosures in the Financial Services Sector (SFDR), signaling alignment with sustainable investment criteria. The fund's strategy mirrors previous offerings but benefits from the firm's expanded deal-sourcing capabilities.
The NB Global Private Equity Access Fund operates as an evergreen vehicle with significantly lower barriers to entry—€10,000 minimum subscription—and monthly redemption windows, making it accessible to a broader investor base while maintaining liquidity features uncommon in traditional private equity structures.
Neuberger Berman's Private Markets platform provides the infrastructure supporting both offerings. The division manages $129 billion in assets, employs over 430 professionals focused on private markets, and maintains distribution relationships with local partners globally. In 2023 alone, the platform deployed more than $14 billion across co-investments, primary and secondary positions, and private debt. The firm's deal-sourcing intensity has accelerated to an average of 11 investment opportunities analyzed per week in 2023, compared to an eight-per-week average in the three preceding years, demonstrating increased market activity and enhanced deal flow.
The dual-fund approach targets distinct investor segments: the Direct fund appeals to accredited investors seeking curated exposure with meaningful diversification, while the Access Fund captures smaller qualified investors and those valuing redemption flexibility. This strategy aligns with Neuberger Berman's stated objective of expanding evergreen solutions and launching European long-term investment business vehicles to capture institutional capital and qualified retail allocations in a competitive alternative asset marketplace.
The NB Direct Private Equity Fund 2024, which began capital raising in March 2023 with a subscription period extending through December 2024, offers investors broad diversification through a closed-end structure containing more than 30 direct co-investment positions across varying sectors, geographies, company sizes, and value creation strategies. Most share classes require a minimum investment of €25,000. A distinguishing feature is its Article 8 classification under the EU's Regulation on Sustainability-Related Disclosures in the Financial Services Sector (SFDR), signaling alignment with sustainable investment criteria. The fund's strategy mirrors previous offerings but benefits from the firm's expanded deal-sourcing capabilities.
The NB Global Private Equity Access Fund operates as an evergreen vehicle with significantly lower barriers to entry—€10,000 minimum subscription—and monthly redemption windows, making it accessible to a broader investor base while maintaining liquidity features uncommon in traditional private equity structures.
Neuberger Berman's Private Markets platform provides the infrastructure supporting both offerings. The division manages $129 billion in assets, employs over 430 professionals focused on private markets, and maintains distribution relationships with local partners globally. In 2023 alone, the platform deployed more than $14 billion across co-investments, primary and secondary positions, and private debt. The firm's deal-sourcing intensity has accelerated to an average of 11 investment opportunities analyzed per week in 2023, compared to an eight-per-week average in the three preceding years, demonstrating increased market activity and enhanced deal flow.
The dual-fund approach targets distinct investor segments: the Direct fund appeals to accredited investors seeking curated exposure with meaningful diversification, while the Access Fund captures smaller qualified investors and those valuing redemption flexibility. This strategy aligns with Neuberger Berman's stated objective of expanding evergreen solutions and launching European long-term investment business vehicles to capture institutional capital and qualified retail allocations in a competitive alternative asset marketplace.
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