Neuberger Berman Finalizes $7.3 Billion Private Debt Fund
Neuberger Berman, a notable global investment manager, has recently completed the closing of its latest fund, NB Private Debt V, which has successfully raised an impressive $7.3 billion, inclusive of leverage. This amount exceeds the initial target that the company set out to achieve.
The primary focus of this fund is to invest in senior secured, first-lien, and unitranche loans provided to high-quality U.S. companies that are backed by private equity. The investor base for this ambitious fund includes a diverse array of global institutions spanning North America, South America, Europe, the Middle East, and Asia.
"We express our deep gratitude towards our investors for their continued trust and support," stated Susan Kasser, Head of Neuberger Berman Private Debt. The firm aims for capital preservation as its foremost goal, having maintained low annualized default and loss rates of just 0.02% and 0.01%, respectively, since its inception. Their assets under management have significantly grown over time, reflecting their successful investment strategy.
Since its launch in 2013, Neuberger's private debt business has expanded to manage a robust $24.3 billion across both evergreen and closed-end funds. Interestingly, they have been at the forefront of leading or co-leading 98% of all originated loans while maintaining the ability to commit over $800 million in each transaction. Notably, client capital allocated to this investment strategy has surged by more than 81% over the past two years, emphasizing the strong market demand for Neuberger's private debt products.
Anthony Tutrone, the Head of Neuberger Berman Alternatives, commented on the advantages offered by their private markets platform. He indicated that the platform is crafted to support the private equity ecosystem, rather than compete with it. This strategic alignment provides their private debt business with strong deal flow, allowing it to be particularly selective in the loans it finances. Consequently, this leads to better outcomes for their clientele.
The established private markets platform of Neuberger Berman has been operational since 1987 and now manages a staggering $169 billion in client capital. This extensive portfolio encompasses a wide range of investments across private equity sectors, private debt, capital solutions, and specialized strategies.
Kirkland & Ellis served as the legal counsel to the Fund, emphasizing the level of professionalism and support that backs this venture.
About Neuberger Berman
Neuberger Berman is an independently owned investment manager that has been employee-operated since its founding in 1939. The firm employs approximately 2,900 staff members across 26 countries, managing around $558 billion in a diverse array of investment portfolios, including equities, fixed income, real estate, and hedge funds, tailored for global institutions, advisors, and individual investors. The investment ethos of Neuberger Berman hinges on active management, fundamental research, and a commitment to engaged ownership. Over the years, the firm has received numerous accolades, including being named the #1 Best Place to Work in Money Management by Pensions & Investments and consistently ranking highly for over eleven years.
About Neuberger Private Markets
Neuberger Private Markets, a division within Neuberger Berman, has actively engaged in private market investments since 1987. Their strategy involves investments across various asset classes and regions, catering to a wide range of sophisticated institutions and high-profile individuals. As of September 30, 2025, Neuberger Private Markets oversees more than $169 billion across numerous investment strategies, including private credit, co-investments, secondaries, and primary deals. The team comprises over 440 experienced professionals, offering a world-class presence through 15 offices worldwide.
Frequently Asked Questions
What is the purpose of the NB Private Debt V Fund?
The NB Private Debt V Fund aims to invest in senior secured loans to high-quality companies in the U.S., enhancing their portfolio and growth strategies.
How much capital has Neuberger Berman raised for its latest fund?
Neuberger Berman has successfully raised $7.3 billion for the NB Private Debt V Fund, exceeding its original fundraising target.
When was Neuberger Berman's private debt business launched?
The private debt business of Neuberger Berman was launched in 2013 and has since expanded significantly, managing billions in assets.
What is Neuberger Berman's investment philosophy?
The firm follows an investment philosophy centered around active management, fundamental research, and engaged ownership, ensuring strategic decision-making.
How does Neuberger Berman support private equity?
Neuberger Berman's private markets platform is designed to support private equity by providing strong deal flow, selectivity, and valuable insights that benefit clients.
