Neuberger Berman, a private, independent, employee-owned investment manager, today announced a partnership with iCapital Network® 1, the leading global financial technology platform driving access and efficiency in alternative investing for the asset and wealth management industries, in which iCapital will provide a customized technology, service, advisory and distribution solution for financial advisors and their high-net-worth clients seeking access to the NB Crossroads Private Markets Access Fund LLC (“Access Fund”).
Launched in January 2021, the Access Fund is a 1933 and 1940 Act registered, continually offered closed-end fund designed to provide increased access to private equity investments to a broader group of investors than traditional private equity funds. The Access Fund invests across a variety of private equity sponsors, industries, geographies, market caps and vintage years. Its portfolio of private investments includes direct co-investments and secondary investments alongside top-tier private equity partners. As of September 1, 2021, it surpassed $300 million of assets.
Designed to overcome many of the long-standing challenges of investing in alternatives, the iCapital technology and service offering digitalizes the subscription, administration, operational and reporting processes. iCapital also provides a full suite of research, due diligence and educational materials to advisors and their clients.
“We launched the Access Fund in large part because of a long-standing belief that private equity should be accessible to a broader scope of investors,” said Tony Tutrone, Head of Neuberger Berman Alternatives. “In partnering with iCapital, we’re further fulfilling that goal by delivering private equity access with a user-friendly platform. We’re excited to provide investors with direct exposure to an asset class, which is a key driver of diversified returns and risk, and that is already a key component of many institutional investors’ portfolios, including major pension funds.”
“Advisors are increasingly seeking quality registered fund offerings to meet their clients’ growing appetite for alternative investments such as private equity, as a way to diversify portfolios,” said Lawrence Calcano, Chairman and CEO of iCapital Network. “We are excited to help open up access to one of the most respected investment managers with an innovative product customized for accredited investors to help meet that growing demand.”
The Access Fund will present investors with the opportunity to gain exposure to the same co-invest and secondary investment programs as the firm’s institutional clients. The partnership provides an important way to potentially optimize returns while also diversifying investors’ portfolios. Neuberger Berman has more than $80 billion in private market assets under management combined with its 70 years of experience with registered fund vehicles.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 25 countries, Neuberger Berman’s diverse team has over 2,300 professionals. For seven consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. The firm manages $433 billion in client assets as of June 30, 2021. For more information, please visit our website at www.nb.com.
About iCapital Network
Founded in 2013 in NYC, iCapital Network is the leading global financial technology company powering the world’s alternative investment marketplace. It has transformed the way the wealth management, banking, and asset management industries facilitate access to private markets investments for their high-net-worth clients by providing intuitive, end-to-end technology and service solutions. Wealth management firms use iCapital’s solutions to provide clients with quality funds at lower minimums and simplified digital workflows. Asset managers and banks leverage iCapital’s technology to streamline and scale their private investments operational infrastructure. Additionally, the iCapital ‘flagship’ platform offers financial advisors and their high-net-worth clients access to a curated menu of private equity, private credit, hedge funds, and other alternative investments to help meet their investing needs for return and diversification. iCapital’s research and diligence team offers robust analysis alongside the firm’s extensive suite of advisor education, compliance, portfolio management, and portfolio analytics tools and services. iCapital was recognized on the Forbes FinTech 50 list in 2018, 2019, 2020 and 2021, the Forbes America’s Best Startup Employers in 2021, and MMI/Barron’s Industry Awards as Solutions Provider of the Year in 2020. As of July 31, 2021, iCapital services more than $83 billion in global client assets across more than 780 funds. Employing more than 480 people globally, iCapital is headquartered in NYC and has offices in Zurich, London, Lisbon, and Hong Kong.
For additional information, please visit iCapital Network’s website at www.icapitalnetwork.com