NB Alternative Funds SICAV S.A. - (subfund) NB Direct Private Equity Fund A ELTIF

NB Alternative Funds SICAV S.A. - (subfund) NB Direct Private Equity Fund A ELTIF is a closed-end subfund of a Luxembourg SICAV umbrella, managed by Neuberger Berman and launched in 2021. It is structured as an ELTIF under the ELTIF 1.0 regime and authorised in Luxembourg under the UCI Part II framework, a combination that allows pan-European distribution to retail investors subject to the applicable suitability tests. The vehicle is denominated in EUR, carries a minimum subscription of 25,000 EUR, and is assigned a summary risk indicator of 6, at the upper end of the scale used for packaged products.

The strategy is private equity, specifically buyout, implemented through direct co-investment exposure alongside sponsors rather than a primary fund-of-funds structure; current portfolio exposure by region is shown under , and reported assets stand at . Liquidity mechanics follow the closed-end logic of a first-generation ELTIF: capital is committed for the life of the fund, no standing redemption facility is published for the share class, and investors should assume exposure is held to the end of the term with distributions arising from underlying realisations. Valuation is struck on a quarterly basis, which sets the reference point for reporting and for any secondary transfer rather than for dealing. Costs comprise a management fee of within an all-in cost ratio of .

Within the Novantigo coverage set of 494 vehicles as of 31 Aug 2026, this is one of 163 private equity funds, one of 347 domiciled in Luxembourg, and one of 117 that combine both characteristics, so its fee level, cost ratio and size can be read against a reasonably populated peer group of retail-accessible European private equity structures.