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Wall Street Journal

Neuberger Berman Collects Over $4 Billion for GP-Led Secondary Deals

Neuberger Berman wrapped up fundraising for one of the largest vehicles backing continuation fund deals, a type of secondary transaction that has surged in popularity as the markets for selling and listing businesses have slowed. The New York investment manager collected a little over $4 billion of investor commitments for NB Strategic Capital Fund II, along with additional capital to be deployed alongside the commingled fund, the firm said.