Insurance Asset Risk Awards 2023 - North Americas

Private equity manager of the year - Neuberger Berman

Customisation is part of the culture at Neuberger Berman. This focused approach has helped it meet insurance-specific objectives – and constraints.

It has worked with insurers across a wide range of requirements, including training insurance clients' private equity staff to eventually take over capabilities that it currently manages for them.

The expertise comes from 25-years of working with insurers.

It now manages $70bn for the segment across a range of fixed income, equity, alternative and multi-asset class solutions. The bespoke nature of the business has seen it build customised private markets mandates across asset class, strategy, geography, and sectors – including private equity, private credit, real estate, and infrastructure. Portfolio managers partner with the insurance analytics team to utilise proprietary stochastic modelling tools to develop tailored commitments plans.

It worked with one multi-national life insurance company to implement a customised private equity program across primaries, secondaries and co-investments.

Since inception, it has committed over $1bn on behalf of the client and supported a number of modelling exercises, including quarterly stochastic cash flow modelling and annual deterministic modelling of key metrics like net investment income.

All of which is appealing to insurers and win it the private equity manager of the year award for 2023.