Neuberger Berman closes second co-investment fund at $1.1 billion

Neuberger Berman Group closed its second global private equity co-investment fund, the $1.1 billion NB Strategic Co-Investment Partners Fund II, confirmed Alexander Samuelson, spokesman.

The fund will focus on co-investments primarily in buyouts and growth financings. With a fundraising target of $750 million the fund was oversubscribed, but is smaller than the first fund, which closed with $1.6 billion in 2006.

“We believe the size of the fund is correct for current market conditions,” Mr. Samuelson said.

Investors in the fund include $12.9 billion Montana Board of Investments, Helena.

— Contact Arleen Jacobius at ajacobius@pionline.com | @Jacobius_PI