Neuberger Berman announced the successful close of NB Strategic Co-Investment Partners V ("Fund V" or the "Fund"). The Fund closed with over $2.8 billion in capital commitments, surpassing its target of $2.25 billion as well as the predecessor fund size, underscoring the growing investor appetite for GP-centric strategies and reinforcing Neuberger's position as a leading global private equity co-investment manager with over $40 billion1 of dedicated co-investment capital under management across its platform.

Fund V seeks to build a high-quality, diversified and global portfolio of direct equity co-investments alongside premier private equity firms with diversification across industries, private equity managers, enterprise value and vintage years. The Fund has a diverse investor base that includes public and private pension funds, insurance companies, foundations, family offices and high net worth clients globally. Fund V builds on Neuberger's experience managing co-investment strategies for nearly 20 years across market cycles and further demonstrates the firm's reputation as a preferred capital solutions provider.

"We are grateful to our investors for supporting us in this successful fundraise and continue to be excited by the market opportunity in co-investments," said Joana Rocha Scaff, Neuberger's Head of Europe Private Equity. "This Fund enables our clients to participate in distinct investment opportunities we originate by being a flexible and value-added capital solutions provider to our GP partners, especially by acting as co-underwriters of new transactions and investing mid-life in existing sponsor-owned portfolio companies, typically providing capital for growth and partial realizations."

Including Fund V, Neuberger has raised approximately $6 billion in client capital dedicated to co-investments since January 2024, underscoring the strong appetite from investors globally for Neuberger 's co-investment strategy, which seeks to partner with premier lead sponsors in the private equity ecosystem.

David Morse, Global Co-head of Co-Investments, added, "Fund V stands to benefit from our leading private markets platform, with over $140 billion of assets under management, built over 35 years. With a large, global and experienced team of 195+ private markets investment professionals and active investment relationships with over 380 lead sponsors, we believe we are in a strong position to continue to generate compelling investment opportunities."

Ropes & Gray LLP served as legal counsel to the Fund.