About This Fund
NB Strategic Capital Fund II is Neuberger Berman's latest flagship vehicle focused on GP-led secondary transactions, particularly continuation funds. The fund amassed over $4 billion in commitments, significantly exceeding its $2.5 billion target and its $955 million predecessor. This larger capital base allows the firm to lead bigger transactions with less reliance on syndicate partners. The fund intends to invest in 50 to more than 100 companies, emphasizing larger, high-quality deals rather than a high volume of smaller ones. By focusing on a concentrated portfolio, Neuberger Berman aims to deliver strong returns and provide liquidity solutions to existing investors—a strategy well-suited to today’s slower IPO and M&A environments. With over 40 continuation transactions and more than $15 billion in deal volume led or co-led, Neuberger Berman brings deep experience to this fund. The firm is well-positioned to identify and execute on compelling opportunities in the evolving secondary market landscape.