Neuberger Berman Closes $1.1 Billion Credit Opportunities Fund; Private Credit Business Grows To $3.1 Billion

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New York, September 19, 2017 — Neuberger Berman, a private, independent, employee-owned investment manager, is pleased to announce NB Private Equity Credit Opportunities Fund LP (the “Fund”) closed on $1.1 billion of limited partner commitments. The Fund 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.

David Lyon, Managing Director and Head of the Private Equity Credit Opportunities Fund, said of the oversubscribed Fund: “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.”

Including the Fund, Neuberger Berman manages approximately $3.1 billion of committed capital focused on investing in the credits of private-equity backed companies in both the primary issuance market and through secondary purchases. Susan Kasser and David Lyon co-manage the Private Credit business at Neuberger Berman. Learn more about the team here.

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.

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 19 countries, Neuberger Berman’s team is approximately 1,900 professionals, as of June 30, 2017. The company was named the #1 firm in Pensions & Investments 2016 Best Places to Work in Money Management survey (among those with 1,000 employees or more). Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $271 billion in client assets as of June 30, 2017. For more information, please visit our website at www.nb.com.