Neuberger Berman raises $220M for insurance-linked private equity fund
What's the deal? Neuberger BermanDealroom has a profile for this one. Try Dealroom → has raised $216,917,030 for Neuberger Berman Insurance Fund XIIDealroom has a profile for this one. Try Dealroom →, a private equity vehicle, according to a Form D/A filing dated September 10, 2026. The offering was made under the Section 3(c)(7) exemption and is registered across all US states.
How it's structured: The fund is a series interest within the SALI Multi-Series FundDealroom has a profile for this one. Try Dealroom →, organised as a Delaware limited partnership with its principal address in Austin, Texas. The offering has no fixed total size, and the original filing was authorised by Cameron Vail and dated January 30, 2024.
The bigger picture: The same filing reports sales for related SALI series: $98,367,809 for Series XI, $87,184,301 for Series XIII, and $78,897,150 for Series XIV. All carry indefinite total sizes.
The signal: Insurance-dedicated private equity vehicles let insurers and high-net-worth investors access private markets through a tax-efficient wrapper. Fund XII's size, well ahead of its sibling series, points to steady appetite for these structures as managers court insurance capital.
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