Neuberger Berman Fund of Funds and Secondary

The group benefits from Neuberger Berman's broader multi-asset manager-relations infrastructure, which maintains relationships with GPs across private equity, credit, real estate, and hedge funds — giving the fund-of-funds team visibility into managers and deals that a boutique might not see. The secondary practice adds another sourcing lens, as GP-led continuation-vehicle negotiations reveal information about manager quality that pure primary allocators lack. This combination of primary commitment flow, co-investment access, and secondary-market intelligence creates a sourcing engine with overlapping feedback loops.

Specific investment committee members for the fund-of-funds and secondary group are not publicly named by Neuberger Berman. The group operates under the firm-wide investment leadership of Joseph Amato, President and CIO, and is staffed by dedicated fund-of-funds and secondary investment professionals. Decisions are made through internal committees with sector and geography specialists weighing in, consistent with Neuberger Berman's broader governance model.

The secondary team participates in both GP-led continuation-vehicle transactions — where a sponsor rolls portfolio companies into a new vehicle to extend hold periods — and traditional LP-interest portfolio sales. This dual mandate reflects the group's permanent-capital structure, which allows it to evaluate complex secondary opportunities without the forced liquidity timelines that constrain some competitors.

Neuberger Berman completed a management buyout from Lehman Brothers in 2009, and the firm remains owned by its senior investment professionals and portfolio managers. For the fund-of-funds group, this means investment decisions are made by individuals who hold equity in the overall franchise — aligning time horizons between the allocator and the GPs it backs. There is no external shareholder pressure to harvest fees or grow assets at the expense of return quality.

The group manages capital for institutional clients including public and corporate pension funds, sovereign wealth funds, insurance companies, and high-net-worth individuals, primarily through commingled fund-of-funds vehicles and customized separate accounts. The separate-account capability allows large investors to tailor their private-markets exposure while leveraging the group's manager selection and secondary execution.