NB Private Debt Fund II has held a final close at $750 million. The fund will invest in the junior debt of private equity-backed companies in North America, including unitranche loans, second lien loans, and mezzanine debt securities.
Investors in the vehicle are based in North America, Europe and Japan and include public and private pension funds, insurance companies, and foundations.
NB Private Debt gathered $621 million at final close in September 2015. Royal County of Berkshire Pension Fund was one of the investors in the fundraise.