### Neuberger Berman Surpasses Target with Real Estate Secondaries Fund
Investment manager Neuberger Berman has successfully closed its second commingled real estate private equity secondary fund, NB Real Estate Secondary Opportunities Fund II LP (RESOF II), at $1.05 billion. This final close, which includes commitments from both general partners and employees, exceeded the initial target of $800 million.
Similar to its predecessor, RESOF II focuses on acquiring interests in mature real estate funds from limited partners seeking liquidity. Additionally, the fund aims to recapitalize seasoned real estate funds and investments alongside incumbent third-party managers. RESOF II operates on a global scale, with a primary focus on the U.S. and Europe.
Scott Koenig, Head of Neuberger Berman’s real estate secondaries business, highlighted the firm’s strategy, stating, “Our goal is to construct a well-diversified portfolio of seasoned assets acquired at attractive prices via the still-expanding secondary market. We believe 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.*
