NorthBound is the firm’s dedicated emerging manager platform within Neuberger Berman Private Equity, and was formed in 2007 as the outgrowth of an initiative focused on commercializing diversity. The platform was created to principally acquire partnership interests and co-investments of emerging manager private equity firms. NorthBound was the culmination of the diversity efforts, seeking to support talented women and minorities who are attracted to private equity, but often have difficulty raising capital. Neuberger Berman defines emerging managers as firms run by women or minorities; first or second time funds or funds under $1 billion in size. NorthBound is diversified by asset class, industry, manager, company and vintage year. The firm invests in managers with a definable value proposition, a strong alignment of interests and a demonstrated history of success.