Neuberger Berman launches private equity funds

US-based asset manager Neuberger Berman has bolstered its private equity offering with a fund launch and a rebranding.

The NB Direct Private Equity Fund 2024 and the NB Global Private Equity Fund 2024 will be introduced from March 13, 2024.

The NB Direct Private Equity Fund was originally named the NB Direct Private Equity Fund 2023 ELTIF having launched its fundraising in March 2023.

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In addition to the change of name, the fund also has an Article 8 designation under the EU’s Sustainable Finance Disclosure Regulation.

According to Neuberger Berman, the rebranding is designed to make its private equity products more accessible to retail and professional investors.

“In recent years, the experience for public market investors was volatile with high inflation, a global pandemic and increases in interest rates to levels not seen in more than a decade,” said Jose Luiz Gonzalez Pastor, one of the investment managers leading both funds.

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“Within private equity, the journey was smoother, reinforcing the core advantages of private equity of strong historical returns by outperforming public markets over long periods of time, lower volatility, and diversification benefits.”

The record-high dry powder reserves in 2023 rose to $2.59 trillion, suggesting potential for significant private equity activity as values slowly recover and conditions improve, added Pastor. “We anticipate the level of interest and engagement from clients will continue to increase, as regulation changes and new funds launch into the private equity space.”

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