Fund database › Infrastructure
Neuberger Berman · LU3206470612
ELTIF 2.0 Infrastructure Luxembourg Article 8 8 share classes ↓ Secondaries Co-Investments Core / Core+
Unit price (NAV) in EUR · share class E EUR Acc · 4 data points
Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and the trading costs of reinvestment are not taken into account. Past performance is not a reliable indicator of future results.
These come from the factsheet, the PRIIPs KID or the monthly report. They may relate to a different reference date, a different share class or a longer period than the series above — the series starts with the first documented unit price, not necessarily with the launch. That is why the values sometimes differ.
Target return per the provider: 8-10 % p.a. after costs and fees, 'of which 2-3 % p.a. as a distribution'; expressly not guaranteed. PRIIPs scenarios class E (EUR 10,000, 5 years): stress -6.49 % p.a. / unfavourable -0.04 % p.a. / moderate 10.07 % p.a. (EUR 16,160) / favourable 13.43 % p.a.; after 1 year moderate 8.20 %
Provider figure or KID scenario — not a forecast by semiliquid.info. Target returns are not guaranteed.
What the fund does and how the portfolio is put together.
Risk indicator 4 of 7 from the key information document (1 = low, 7 = high); it captures liquidity risks only to a limited extent.
Portfolio breakdown
Broken down using semiliquid’s common taxonomy — provider labels are mapped onto shared categories so that funds can be compared. Only published figures are used; nothing is estimated.
Strategy
The basis is the PRIIPs KID of the share class we track — which makes it comparable across providers.
| Management fee | 1.80% |
| Total ongoing costs | 2.06% |
| Entry charge max. | 0.00% |
| Redemption fee | 0.00% |
| Performance fee | 10.00% |
| Hurdle rate | 6.00% |
| High-water mark | not documented |
Median across 19 funds in this asset class in our database, based on the PRIIPs KID. No statement about quality — cost structures differ depending on the strategy and on target-fund layers.
How you get into the fund, and on what terms.
Monthly ('Subscription: monthly'; sale/matching on the monthly dealing day)
Semi-liquid means redemption only on fixed dates, with notice periods and upper limits. This is how it works for this fund — in the order the redemption process runs.
Units can be redeemed quarterly; notice must be given 90 days before the date; on each date the fund redeems at most 5 % of fund assets; for the first 24 months after subscription no redemption is possible.
The gate caps redemptions at 5 % of fund assets per date. If more investors want out at the same time, orders are scaled back pro rata or deferred to the next date.
From the notice being received to the money reaching your account: typically around 108 to 200 days — depending on how far away the next redemption date is. If the gate bites or redemptions are suspended, it can take considerably longer.
Quarterly after the end of the ramp-up phase ('After the end of the ramp-up phase, redemptions of units by the fund may, subject to legal changes, be permitted on a quarterly cycle'). Presentation: 'After the ramp-up phase, at any time with effect from the end of the next quarter' - example: a disposal notified on 15 December takes place on 31 March. During the ramp-up phase, only matching with newly entering investors on the monthly dealing day
5 % of the net asset value of the units in issue per calendar quarter, aggregated across all share classes, measured at the end of the preceding quarter; the presentation adds: '5 per cent of the fund size per quarter, or 20 per cent per year'. In exceptional circumstances (severe market dislocation) a temporary further restriction is possible; restrictions apply pro rata to all redemptions in the quarter concerned. Release additionally depends on the liquidity analysis of the AIFM and of the portfolio managers as at the relevant redemption date
At least 90 days: 'These sale orders must be sent to the administrator at least 90 days before the relevant unit redemption date.'
Ramp-up phase of two (2) years from the first subscription closing, during which redemptions of units by the fund are NOT permitted; expected to end in Q2 2028. The ramp-up phase may end earlier at the discretion of the management, or be extended by a further year. During the ramp-up phase, an exit is possible only via matching (sale to newly entering investors)
The score measures only the contractual redemption mechanics (the higher, the more flexible) — not whether the fund actually stays liquid under stress. Weightings in per cent.
8 classes known. All cost and risk figures on this page apply to LU3206470612. Minimum investment by class EUR 10,000 – EUR 50.
| ISIN | Status | Min. investment | Ongoing costs | SRI |
|---|---|---|---|---|
| LU3206470612 | basis of this page | EUR 10,000 | 2.06% | 4/7 |
| LU3217584104 | documented | EUR 10,000 | 1.61% | 4/7 |
| LU3206470885 | documented | EUR 10,000 | 2.06% | 4/7 |
| ISIN | Status | Min. investment | Ongoing costs | SRI |
|---|---|---|---|---|
| LU3206471008 | documented | EUR 5,000 | 2.06% | 4/7 |
| LU3206471180 | documented | EUR 5,000 | 0.80% | 4/7 |
Who stands behind the fund, who it is authorised for — and what the figures rest on.
Neuberger Berman AIFM S.a r.l., 31-33 rue Sainte Zithe, L-2763 Luxembourg (also the PRIIP manufacturer), supervised by the CSSF. Fund manager: Neuberger Berman. Investment adviser to the sub-fund: LIQID Asset Management GmbH. Further partners according to the presentation: Neuberger Berman, Upvest, Luther
Brown Brothers Harriman (Luxembourg) S.C.A. ('BBH'), 80 Route d'Esch, L-1470 Luxembourg - also central administrator and transfer agent
No launch date in the KID; KID preparation date 27 November 2025. Term: 50 years from the first subscription closing, extendable by up to three periods of one year each. Presentation: ramp-up phase 'expected to last until the end of the second quarter of 2028'
Listed as “NB Alternative Funds SICAV S.A. - LIQID Infrastructure Fund NXT“ · fund type: EU/foreign ELTIF, open-ended, all investors · ID 70161524
'The units are intended for suitable retail investors who (i) have sufficient experience and theoretical knowledge to assess the risk of an investment in private equity funds; (ii) are able to maintain an investment in a fund with limited redemption rights; (iii) have a long-term investment horizon; (iv) have sufficient resources to bear any losses ... and (v) are prepared to take medium risk.' No obligation to make additional contributions ('Obligation to make additional contributions: none')
Germany
Predominantly a single fee layer: the sub-fund makes DIRECT co-investments alongside leading infrastructure and private equity firms and generally takes minority stakes - which largely removes the classic target-fund double charging. Additional layers: (1) opportunistic secondary purchases of units in EU AIFs (fees of those target funds arise there); (2) investment adviser LIQID Asset Management GmbH alongside the AIFM Neuberger Berman AIFM S.a r.l. (remuneration included in the ongoing costs). Fund-level costs of class E are disclosed separately at 0.36 % p.a.
All figures come from our analysis of provider documents (product data as at 19 Aug 2026, distribution data as at 12 Aug 2026) and have not been conclusively verified.
Same asset class, sorted by overlap of sub-strategy — no recommendation, no ranking.
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