Neuberger Nets $2B For Latest Secondaries Fund

Law360, New York (November 12, 2013, 1:48 PM EST) -- Neuberger Berman Group closed out its third secondary global equity fund, raising $2 billion from investors worldwide, the asset manager said Tuesday.

The fund exceeded its $1.6 billion target, Neuberger said, and is larger than its predecessor, the $1.7 Secondary Opportunities Fund II. The new fund, SOF III, will look for private equity funds and structured private equity, as well as direct and co-investments throughout the world.

"Investors like our strategy of leveraging the global sourcing and due diligence capabilities of a leading asset management firm...
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