Neuberger Berman Closes Credit Opportunities Fund at Nearly $2.5B

Neuberger Berman, a private, independent, employee-owned investment manager, closed its latest credit fund, NB Credit Opportunities Fund II, at approximately $2.5 billion, surpassing its initial target of $1.5 billion.

The fund is managed by NB Capital Solutions, a unit of Neuberger Berman that finances companies owned by private equity firms.

The fund strategy focuses on structured or minority equity, and other junior capital instruments in companies across a broad array of industries, with a focus on North America.

“The current market environment continues to create opportunities for firms like Neuberger Berman, with a global non-control private equity platform, that can invest in scale and provide strategic, flexible capital to our private equity partners,” said David Lyon, managing director and head of NB Capital Solutions.

NB Capital Solutions manages approximately $5.6 billion, including the latest fund. Since January 2021, the fund has invested in 31 companies.

In March 2022, Neuberger Berman closed its Opportunistic Capital Solutions Fund at $1.95 billion. The fund co-sponsors a series of SPACs with private investment firm CC Capital.