Neuberger Berman, a private, independent, employee-owned investment
manager, closed NB Private Equity Impact Fund, at nearly $280m.
The Impact Fund is backed by a global investor base that includes public and private pension plans, insurance companies and other financial institutions, endowments, foundations and family offices. Investors are represented across a broad geographic range including North America, Europe, Asia and Australia.
The fund primarily invests in direct and fund investments that seek to achieve positive social and environmental outcomes that are aligned with the UN Sustainable Development Goals and that also meet NB Private Equity’s traditional underwriting standards.
The vehcile invests in opportunities that are aligned with broader investment themes such as improving health outcomes, addressing climate change and energy needs, and improving sustainable growth and employment.
As of March 31, 2021, the Impact Fund has committed $132m to direct investments (coinvestments), primary fund commitments and secondary transactions. Investments include businesses with sound capital structures and that are generally focused on essential products and services that contribute to social and environmental solutions and therefore are less cyclical than the broader market. Examples include a point of use
water filtration and dispenser company that is displacing plastic water bottles, a next generation broadband technology platform and an online tutoring solution that delivers both high-quality and affordable tutoring to K-12 students.
The fund will be deployed by a global team of over 60 investment professionals including Maura Reilly Kennedy, Managing Director, Jennifer Signori, Managing Director, and Dominique Drenckhahn, Principal.
Neuberger Berman is a global private equity investor that manages $429 billion in AUM with over $96 billion of committed capital to private markets.
FinSMEs
27/04/2021