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Financial Advisory  + Alternative Assets  + Private Equity  | 
Neuberger Berman Raises $4.9Bfor Global Private Equity Secondary Fund V, which targets GP-led and LP-led transactions in the private equity middle market

Neuberger Berman Raises $4.9B for Global Private Equity Secondary Fund 

Neuberger Berman has held the final close of NB Secondary Opportunities Fund V LP, the firm’s fifth global private equity secondary fund at $4.9 billion, surpassing its target of $3 billion.  

It is the successor to NB Secondary Opportunities Fund IV LP, which had commitments of $2.5 billion. 

The fund will be led by the same leadership team as SOF IV, consisting of Peter Bock, Ethan Falkove, Frank Guglielmo, Boriana Karastoyanova, Victor Ko, Philipp Patschkowski, Tristram Perkins, Ben Perl and Brian Talbot. 

Neuberger Berman’s secondary funds target GP-led and LP-led transactions in the private equity middle market, with an emphasis on concentrated, high-conviction deals. 

The fund has been in the market since March 2020, receiving support from limited partners such as City of Milwaukee Employees’ Retirement System and Alaska Retirement Management Board, each committing $100 million, and Vermont State Retirement Systems, which committed $70 million. 

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Nueberger Berman

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.