Neuberger Berman closed its latest fund at $1.95 billion in commitments and will co-sponsor a series of SPACs with a private investment from CC Capital led by Chinh Chu to create a "next generation" SPAC platform.
The Neuberger Berman Opportunistic Capital Solutions Fund has entered into a $200 million forward purchase agreement with each co-sponsored SPAC. In addition, the fund has entered into equity backstop facility agreements to invest up to $300 million across the CC Neuberger SPACs, on a first-come, first-serve basis to offset potential SPAC shareholder redemptions.
The . . .
Unlock this article instantly, along with the rest of our premium content, newsletters and data tables tracking investor and manager activity. Annual subscriptions get you the most bang for your buck, including access to Alternatives Watch Research articles and out Annual Investor Compendium.
Monthly subscriptions and discounted corporate plans for up to 100 members also available.