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.