US-based asset manager Neuberger Berman has launched a private equity fund which aims to provide retail and professional investors with access to a diversified portfolio of direct private equity co-investments in a semi liquid structure.
The NB Private Equity Open Access Fund offers monthly subscriptions and quarterly redemptions, and will maintain a target of 15% in liquid investments managed by Neuberger Berman’s multi-asset class team.
The minimum investment for most share classes is €10,000 making private equity more accessible to retail investors in the EU. Depending on the country, the fund may also be available direct or via trading platforms.
The ELTIF-style fund will focus on direct co-investments in private companies alongside leading private equity managers in their core areas of expertise and in a variety of investment strategies, including strategic growth initiatives, M&A, digital transformation, and operational improvement.
The portfolio will mainly target buyout opportunities spread across a range of industries and enterprise values, primarily in Europe and the USA, and will be diversified by vintage.
José Luis González Pastor, Managing Director, Private Markets, Neuberger Berman, said: “The NB Private Equity Open Access Fund’s strategy provides immediate exposure to a diversified portfolio, eliminating the complexities of capital calls and reinvestment risk decisions with the asset class.
“In the past year, we evaluated more than 2,900 opportunities across our private markets’ platform, and continued to deploy our clients’ capital selectively ensuring exposure to a variety of assets.”
