Neuberger Berman said Wednesday that its NB Private Debt Fund has closed on more than $620 million of LP partner commitments. The fund will seek to invest in the debt of private equity-backed companies, including uni-tranche loans, second lien loans and mezzanine debt securities of companies in both the primary issuance and secondary market. At the final close, the Fund was 52 percent invested in 22 companies. PRESS RELEASE NEW YORK, Sept. 9, 2015 /PRNewswire/ — Neuberger Berman, a private, independent, employee-owned investment manager, is pleased to announce the closing of NB Private Debt Fund LP (the “Fund”), which seeks to invest in the debt of private equity-backed companies, including uni-tranche loans, second lien loans and mezzanine debt securities of companies in both the primary issuance and secondary market. The Fund closed on over $620 million of limited partner commitments. The Fund’s global investor base is comprised of more than 25 institutions, including public and private pensions, insurance companies and foundations from North America, Europe and Japan. Including the Fund, the Private Debt team at Neuberger Berman (“NB Private Debt”) manages approximately $1.5 billion of committed capital across a platform of multiple investment vehicles.1 “We are grateful for the ongoing support of our investors,” Susan Kasser, Head of NB Private Debt stated. The Fund employs a flexible investment strategy including a wide range of company sizes and securities while seeking to invest in established, profitable companies in recession resistant industries, based in North America, with EBITDA of $20 million to $250 million. The Fund’s average investment size is between $25 and $75 million. At the final close, the Fund was 52% invested in 22 companies. About Neuberger Berman Private Equity Neuberger Berman Private Equity is a leading global private equity investor with nearly 30 years of experience and has managed over$30 billion of commitments since inception through September 2015 across (i) private equity fund investments in the primary and secondary markets, (ii) direct equity co-investments and debt investments in private equity owned companies and (iii) a number of specialty strategies including asset management minority stakes, brand royalties, and healthcare credit investments. Its dedicated team of approximately 270 professionals has a global presence with offices in the U.S., Europe, Asia and South America. Neuberger Berman Private Equity has committed approximately $2 billion on average annually to private equity funds and direct investments. For more information, please visit our website at www.nb.com. About Neuberger Berman Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 18 countries, Neuberger Berman’s team includes more than 2,100 professionals and the company was named by Pensions & Investments as a 2013 and 2014 Best Place to Work in Money Management among organizations with over 1,000 employees. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $251 billion in client assets as ofJune 30, 2015. For more information, please visit our website at www.nb.com. 1 AUM represents commitments as of August 31, 2015. This includes commitments from various investment funds and accounts managed by NB Private Debt and capital allocated from NB Private Equity Partners (“NBPE”) a UK-listed investment vehicle managed by NB Private Equity.