Neuberger Berman Private Markets Access Fund Surpasses $1 Billion in Assets, Driven by Strong Advisor and Institutional Demand

New York, June 18, 2024 – Neuberger Berman, an employee-owned, private, independent investment manager, announced its NB Private Markets Access Fund LLC (“NB Access Fund” or the “Fund”) has reached a significant milestone, surpassing $1 billion in net assets. Launched in January 2021, the NB Access Fund has grown consistently, highlighting both financial advisor and institutional investor demand for a differentiated, registered, evergreen private equity fund focused on direct private equity investments managed by an experienced and dedicated private equity team.

The NB Access Fund provides a broader universe of investors access to Neuberger Berman’s private equity co-investments and GP-led secondary private equity solutions. The Fund invests in institutional-quality direct investments alongside leading private equity managers. As of April 30, 2024, the portfolio includes 68 private equity investments alongside 55 unique, lead private equity sponsors.

With over 35 years of investing experience in private market and a deep understanding of evergreen strategies (managing over $7+ billion across 20 such vehicles), Neuberger Berman leverages its team of 410+ private market investment professionals globally to enhance deal flow, due diligence, and general partner relationships through its integrated platform of primary, secondary, and direct private equity investments. Building on more than 70 years of experience with registered funds, Neuberger Berman designed the Fund with an accessible structure that seeks to address the common challenges investors face with traditional private equity investments.

The Fund’s structure reduces the operational complexity associated with traditional private equity investments and has benefits to investors including (i) lower investment minimums ($50,000) and eligibility requirements than most private equity funds, (ii) monthly closings that are fully funded upfront with no ongoing capital calls, (iii) liquidity via quarterly tender offers, (iv) simplified form 1099 tax reporting, and (v) a transparent fee structure with monthly reporting.

The Fund is available through various intermediaries and financial advisors, who play a key role in educating investors and properly allocating private markets assets within their clients’ portfolios.

About Neuberger Berman

Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $474 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. UNPRI named the firm a Leader, a designation awarded to fewer than 1% of investment firms for excellence in environmental, social and governance practices. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Places to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of March 31, 2023.

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