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Neuberger Berman Surpasses Target with Real Estate Secondaries Fund
Investment manager Neuberger Berman has reached the final close of NB Real Estate Secondary Opportunities Fund II LP (RESOF II), the New York-based firm’s second commingled real estate private equity secondary fund. RESOF II closed at $1.05 billion, including GP and employee commitments, surpassing its target of $800 million.
Like its predecessor fund, RESOF II primarily seeks to acquire interests in mature real estate funds from limited partners desiring liquidity and to recapitalize seasoned real estate funds and investments alongside incumbent third-party managers. RESOF II invests globally, with a focus on the U.S. and Europe.
Scott Koenig, Head of Neuberger’s real estate secondaries business, said, “Our goal is to construct a well-diversified portfolio of seasoned assets acquired at attractive prices via the still-expanding secondary market. We think this offers investors the potential for compelling risk-adjusted returns and provides a differentiated way to access the real estate asset class.”
Pictured: Neuberger Berman headquarters in Midtown Manhattan.
- ◦Financing
