Neuberger Berman announced the final close of NB Private Debt V, with $7.3 billion raised, inclusive of leverage, exceeding its original target. The firm will utilize the Fund to invest in senior secured first-lien and unitranche loans supporting high-quality U.S. private equity-backed companies. The Fund attracted commitments from global institutional investors across North America, South America, Europe, the Middle East, and Asia.
The private debt platform at Neuberger Berman was launched in 2013 and now manages $24.3 billion across evergreen and closed-end vehicles. The business leads or co-leads 98% of originated loans and can commit more than $800 million per transaction. Client capital dedicated to the strategy has increased by more than 81% in the last two years, reflecting continued institutional demand.
The private markets platform at Neuberger Berman, established in 1987, manages $169 billion in capital across private equity primaries, secondaries, and co-investments, as well as private debt, capital solutions, and other specialty strategies. Kirkland & Ellis served as legal counsel for the Fund.
Neuberger Berman is an employee-owned investment manager founded in 1939 with 2900 employees across 26 countries. The firm manages $558 billion across multiple asset classes, including equities, fixed income, private equity, real estate, and hedge funds, based on its approach to active management, fundamental research, and engaged ownership.
KEY QUOTES:
“We are deeply grateful for our investors’ ongoing trust and support. Capital preservation is our first priority. Since inception, our annualized default and loss rates remain low at just 0.02% and 0.01%, respectively, as our assets under management continue to grow.”
Susan Kasser, Head of Neuberger Berman Private Debt
“Our private markets platform is built to support the private equity ecosystem—not compete with it. That alignment gives our private debt business strong deal flow, the ability to be highly selective, and meaningful information advantages—all of which translates into better outcomes for our clients. As the needs of our investors and GP partners evolve, we’re scaling our connectivity and capabilities, and private debt remains a core engine of that growth.”
Anthony Tutrone, Head of Neuberger Berman Alternatives
