Fubon Life commits $45m to NB Alternatives’ co-investment fund

Photo by Pepi Stojanovski on Unsplash

Taiwan-based Fubon Life Insurance has committed $45 million in NB Strategic Co-Investment Partners IV, the fourth co-investment vehicle of NB Alternatives, according to a disclosure on the Taiwan stock exchange.

Fubon Financial Holdings, the Taiwan-listed investment manager of Fubon Life, confirmed the investment although no other details were disclosed.

NB Alternatives manages over $65 billion of commitments across primary and secondary funds, equity co-investments, private debt, and other yielding strategies. It is an indirect wholly owned subsidiary of Neuberger Berman Group, a private, independent, employee-owned investment manager.

The fourth co-investment vehicle is part of the series of funds that specialise in minority investments in transactions led by other private equity firms. NB Co-Investment Partners LP seeks to make investments between $5 million and $150 million per transactions.

The fund invests in Europe, Middle East and Africa, Latin America, North America and Asia Pacific.

Fubon Life’s commitment in NB Alternatives brings its private equity fund commitments so far this year to $275 million in seven funds. It recently committed $30 million to the $4.25-billion China-Southeast Asia-focused private equity fund that global private equity firm Warburg Pincus is looking to raise.

In May, Fubon Life announced a $20-million commitment to New Enterprise Associates 17, a fund that seeks $3.6 billion to invest in technology and healthcare opportunities in North America and Asia.

It also invested $20 million in New Enterprise Associates, $30 million in StepStone Secondary Opportunities Fund IV, $50 million in Blackstone Capital Partners VIII, $50 million in AEA Investors Fund VII, and another $50 million in Strategic Partners Fund VIII.