Neuberger Berman wraps up third private debt fund at $1.7 bln

Neuberger Berman has closed its third private debt fund at $1.7 billion, beating its $1.5 billion target. NB Private Debut Fund III LP will invest in first lien, unitranche and second lien loans of US middle-market companies backed by private equity firms. The fund's investors including public and private pensions, insurance companies, and foundations from the U.S., Canada, Europe, Korea, Japan and South America.

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