Neuberger Berman, an independent investment management firm, has closed its second real estate private equity secondary fund, NB Real Estate Secondary Opportunities Fund II LP (RESOF II), at $1.05 billion. The fund surpassed its initial $800 million target, including commitments from general partners and employees. It follows the firm’s first fund in this strategy, which secured $712 million in investor commitments.
RESOF II focuses on acquiring interests in established real estate funds from limited partners seeking liquidity. It also supports the recapitalization of seasoned real estate funds and investments in collaboration with existing third-party managers. The fund primarily operates in the U.S. and Europe, targeting middle-market opportunities where the team believes it can exercise greater selectivity.
Neuberger Berman applies a value-oriented investment approach, emphasizing asset-level underwriting rather than broad portfolio analysis.
Scott Koenig, Head of Neuberger Berman’s Real Estate Secondaries business, highlighted the firm’s commitment to the sector. “We see long-term potential in real estate secondaries and appreciate the trust our investors have placed in us. Our objective is to build a diversified portfolio of seasoned assets acquired at attractive valuations in the growing secondary market,” he said.
Managing Director Ted Rykowski added, “RESOF II benefits from the disciplined approach to secondary investing that Neuberger Berman has refined over decades. With a dedicated team and the backing of our broader private markets platform, we are well-positioned to identify and execute high-quality real estate secondary investments globally.”
RESOF II has attracted a diverse range of investors, including corporate and public pension plans, endowments, foundations, insurance firms, family offices, and high-net-worth individuals. Investors span North America, Europe, and Asia.
Simpson Thacher & Bartlett LLP served as legal counsel for the fund.
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.
By Proptechbuzz
By Ravi Kumar
