Neuberger Lines Up $720M Private Equity Fund Of Funds

Law360, New York (November 15, 2011, 12:30 PM EST) -- Neuberger Berman Group LLC, energized by the news that bankrupt Lehman Brothers Holdings Inc. planned to sell its significant minority stake in the employee-controlled investment manager, said Tuesday it had raised $720 million for private equity fund investments.

The New York-based Neuberger Berman —  which has thrived since weathering Lehman's disastrous September 2008 Chapter 11 filings — said its new NB Crossroads 2010 Fund, a so-called fund of funds, would be deployed into high-quality private equity funds and parallel investments, which often ride shotgun alongside such...
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