New York, January 5, 2017 – Neuberger Berman, a private, independent, employee-owned investment manager, is pleased to announce the final close of NB Secondary Opportunities Fund IV LP (“SOF IV”), Neuberger Berman’s fourth global private equity secondary fund. SOF IV closed at $2.5 billion, surpassing its target of $2.0 billion. SOF IV, which launched in April 2016, is the successor to NB Secondary Opportunities Fund III LP, which had commitments of $2.0 billion.

SOF IV seeks to achieve attractive risk-adjusted returns through the purchase of seasoned private equity investments from investors seeking liquidity. SOF IV has a global mandate and will pursue secondary opportunities in private equity funds, direct investments, co-investments and structured private equity opportunities.

SOF IV’s investment team is led by Brian Talbot, Tristram Perkins, Ethan Falkove and Benjamin Perl. The team has significant secondary experience and a proven track record dating back to 1991. The investment team leverages a large pool of talent within Neuberger Berman’s over $40 billion private equity platform, which includes approximately 110 investment professionals in the U.S., Europe, Asia and South America.

SOF IV’s diverse investor base includes corporate and public pension plans, endowments, foundations, insurance companies, family offices and high net worth individuals. Investors are global, including from North America, Europe, Latin America and Asia.

Brian Talbot and Tristram Perkins are global co-heads of Neuberger Berman’s secondary investing group. “We are enormously appreciative of our investors’ trust and strong support of SOF IV,” said Mr. Talbot. Mr. Perkins added “Investors appreciate our ability to leverage the global investment sourcing, due diligence and valuation resources of a $255 billion asset management firm, as well as our focus on the secondary middle market and the growing opportunity in GP-led secondary transactions.”