Deals
Neuberger Berman Raises $1.7 Billion for a Direct Lending Fund
- Fund to focus on lending to PE-owned mid-sized firms
- Money raised exceeded the original target of $1.5 billion
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Neuberger Berman has raised $1.7 billion for a fund that will directly lend to mid-sized companies bought out by private equity firms.
The money manager, which buys equity in some of these companies through its investments in buyout funds, is increasingly lending to the corporations as well. With the new fund, Neuberger Berman’s private credit funds will have about $4.2 billion of capital available for loans, according to a statement seen by Bloomberg News.