Simpson Thacher advised Neuberger Berman in the establishment and raising of NB Real Estate Secondary Opportunities Fund II LP (“RESOF II”), its second commingled real estate private equity secondaries fund. RESOF II closed with more than $1 billion in commitments, excluding GP and employee commitments, surpassing its target of $800 million and reaching its hard cap for limited partner capital commitments.
Like its predecessor fund, RESOF II invests globally, with a focus on the U.S. and Europe, and primarily seeks to acquire interests in mature real estate funds from limited partners desiring liquidity, as well as to recapitalize seasoned real estate funds and investments alongside incumbent third-party managers.
The Simpson Thacher team included Lauren King, Mark Guffanti, Dylan Igoe, Jessie Li, Sara Asrat and Natalie Wembolua (Funds); Benjamin Rippeon, Jacqueline Clinton and Edward Grais (Tax); and Jeanne Annarumma (ERISA).