NB Alternatives raises $1.1bn

The US-based investment manager expands its private credit business with fund close.

NB Private Equity Credit Opportunities Fund has held a final close at $1.1 billion. The oversubscribed vehicle invests in the secured and unsecured debt of private equity-backed companies in both primary and secondary transactions.

Investors in the fund included pension funds, such as Clwyd Pension Fund, insurance companies and foundations based in North America, Europe and Japan.