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NB Alternatives Advisers
NB Alternatives Advisers is the $45B private markets arm of Neuberger Berman, led by John T.
NB Alternatives Advisers
NB Alternatives Advisers was established in 1999 as a dedicated private markets platform within Neuberger Berman, a firm founded in 1939 with roots in institutional asset management. The unit originally focused on private equity, growing its team and product suite to span multiple alternative asset classes. The firm deploys capital across direct investments, fund commitments, and co-investments, with core sectors including private equity buyouts, real estate, private credit, and infrastructure. Its geographic focus covers North America, Europe, and select Asia-Pacific markets. Notable holdings include investments in logistics provider XPO Logistics and healthcare services company Ensemble Health Partners. NB Alternatives Advisers manages over $45 billion in assets, with offices in New York, Chicago, and London. In March 2024, the firm closed its latest infrastructure fund at $2.5 billion, reflecting sustained demand from institutional investors. What distinguishes NB Alternatives Advisers is its integration within a larger asset manager, providing access to diversified deal flow and extensive research resources without operating as a standalone firm. This structure allows for cross-asset-class collaboration and capital flexibility.
General information
Firm type
Asset Manager
Year founded
1999
AUM
$45B (per the firm's regulatory filings, 2023)
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
Chicago · London
Principals
John T. O'Neill
Chief Executive Officer
David H. Jones
Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at NB Alternatives Advisers?
John T. O'Neill serves as CEO and oversees overall strategy since 2018, with David H. Jones as CIO responsible for portfolio construction and investment decisions (per public record).
Does NB Alternatives Advisers participate in fund commitments or only direct deals?
The firm engages in both direct investments and fund commitments, acting as a limited partner in third-party funds while also executing direct co-investments alongside sponsors (per the firm's regulatory filings).
What investment stages does NB Alternatives Advisers typically target?
It targets middle-market companies and assets across growth, buyout, and opportunistic stages, focusing on long-term value creation (per the firm's public communications).
Which sectors does NB Alternatives Advisers explicitly avoid?
The firm does not typically invest in early-stage venture capital, distressed debt, or natural resources, preferring cash-flow-positive businesses and hard assets (per market analysis).
How is NB Alternatives Advisers related to Neuberger Berman?
It operates as the dedicated private markets division within Neuberger Berman, a ~$500 billion institutional asset manager, leveraging the parent company's distribution and research infrastructure without being a separate legal entity (per Neuberger Berman's public materials).
Where does the underlying wealth come from?
The capital is sourced from institutional investors, including pension funds, endowments, and insurance companies — not a single family fortune — distinguishing it from family offices (per public record).
Does NB Alternatives Advisers maintain oversight over co-investments?
Yes, it structures co-investments through its dedicated co-investment program, typically taking passive minority stakes alongside sponsor GPs, with approval by its investment committee (per the firm's regulatory disclosures).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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