Just closed: Neuberger Berman raises $402m

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Neuberger Berman Group has raised $402 million for its NB Private Debt Fund II, according to a SEC filing. The New York-headquartered firm began fundraising in 2015 with an undisclosed target.

Its previous fund raised $621 million in 2015.

The fund will target subordinated/mezzanine debt opportunities in a diverse number of sectors in North America.