Neuberger Berman targets $1.1 bln for third Italy-focused fund-sources – Reuters


Dec 3 (Reuters) – U.S. investment equity firm Neuberger Berman Group LLC is seeking to raise 1 billion euros ($1.1 billion) for its third Italy-focused buyout fund, according to two people familiar with the matter.

The fund, dubbed NB Renaissance Partners III, was launched last year and is seeking deals in Europe’s fourth-largest economy in sectors that include industrials, pharmaceuticals, aerospace and technology.

New York-based Neuberger Berman has amassed 670 million euros ($738 million) for its latest Italy-focused fund, one of the sources said.

Neuberger Berman, which has not previously disclosed the target size of the fund, declined to comment.

In its previous Italy-focused fund, the buyout firm raised 300 million euros from investors in 2017, while the inaugural fund raised 620 million euros in 2015.

Neuberger Berman’s investments in Italy include Engineering-Ingegneria Informatica, an information-technology company; Alfasigma, a pharmaceutical firm; and Farnese Vini, a manufacturer of wines and spirits.

With $339 billion in assets under management, Neuberger Berman is one of the world’s largest investment firms. The firm’s Italian investing platform, NB Renaissance Partners, is a joint venture with Intesa Sanpaolo, the country’s largest bank. ($1 = 0.9073 euros) (Reporting by Chibuike Oguh in New York; Editing by Stephen Coates)



Source link

Be the first to comment

Leave a Reply

Your email address will not be published.


*