The 86-year-old, employee-owned investment manager in New York launched its impact-focused private equity fund strategy in 2021, raising $280 million to invest in funds and companies delivering essential products and services. With its slightly larger second fund, the firm is continuing that strategy, noting that such basic businesses perform well during market turmoil.
The second fund was backed by unnamed public and private pension funds, insurance companies, foundations, family offices and individuals. It has invested in three funds and eight companies, including a water pumping company for agricultural irrigation and industrial water efficiency, an education technology company and a healthcare company improving patient triage.
Neuberger Berman says its impact and sustainable investment portfolio has reached $1.3 billion in assets.
