Neuberger Berman closes on $1.1 billion credit opportunities fund

By Sarah Lizee

Olympia, Wash., Sept. 19 – Neuberger Berman announced the closing of NB Private Equity Credit Opportunities Fund LP in a Tuesday press release.

The fund, which seeks to invest in the secured and unsecured debt of private equity-backed companies, primarily in secondary market transactions, taking advantage of credit market dislocations, inefficiencies and gaps in liquidity, closed on $1.1 billion of limited partner commitments, according to the release.

“We are thrilled by the support of our existing and new investors and are excited about the prospect of capitalizing on inefficiencies in North American corporate credit with a long-term vehicle that can provide liquidity throughout various market cycles,” David Lyon, managing director and head of the fund, said in the release.

The fund’s global investor base is comprised of institutions including public and private pensions, insurance companies and foundations from North America, Europe, and Japan.

Neuberger Berman is a private, independent, employee-owned investment manager based in New York.

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