The fund, dubbed NB Renaissance Partners III, was launched last year and is seeking deals in Europe’s fourth-largest economy in sectors that include industrials, pharmaceuticals, aerospace and technology.
New York-based Neuberger Berman has amassed 670 million euros ($738 million) for its latest Italy-focused fund, one of the sources said.
Neuberger Berman, which has not previously disclosed the target size of the fund, declined to comment.
In its previous Italy-focused fund, the buyout firm raised 300 million euros from investors in 2017, while the inaugural fund raised 620 million euros in 2015.
Neuberger Berman’s investments in Italy include Engineering-Ingegneria Informatica, an information-technology company; Alfasigma, a pharmaceutical firm; and Farnese Vini, a manufacturer of wines and spirits.
With $339 billion in assets under management, Neuberger Berman is one of the world’s largest investment firms. The firm’s Italian investing platform, NB Renaissance Partners, is a joint venture with Intesa Sanpaolo (MI:ISP), the country’s largest bank.StockMarket.com
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