Fund database › Infrastructure
Neuberger BermanLU3206470612Class E EUR Acc
LIQID Infrastructure NXT brings an infrastructure co-investment strategy from the Neuberger Berman universe into German custody accounts — globally across Europe, North America and Asia, as an ELTIF 2.0, launched in 2025.
No redemption right during the two-year build-up phase — exit only through monthly matching; thereafter quarterly net redemption with roughly one quarter's notice and a quantified limit.
Subscription from EUR 10,000, savings-plan eligible, for eligible retail investors; distribution focused on Germany, recommended holding period five years.
The infrastructure counterpart to the LIQID PE product, built to the identical blueprint — direct distribution, savings plan, build-up phase: investors who chose the platform route get the second asset class here from the same workshop.
Figures for class E EUR Acc (LU3206470612) · product data 9 Oct 2026 · sources: prospectus (as at sub-fund prospectus as at April 2026; umbrella prospectus January 2026; CSSF authorisation 3 Nov 2025), PRIIPs-KID — full list under 08 documents.
Since the data series began in Apr 2026, the unit price has gained 2.5% (cumulative, 0.3 years). The series is still short; valuations of private holdings arrive quarterly and smoothed.
5 monthly values · Source: secondary source (data portal) · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results. The fund has been running since Oct 2025; a reliable NAV series of the class is available from Apr 2026.
What the prospectus permits: Direct private infrastructure co-investments together with leading infrastructure and private equity firms (Macquarie, Brookfield, Stonepeak, Antin and others); target allocation of approx. 25% each to core, core-plus, value-add and opportunistic.
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
What is actually held: breakdown by sector and region according to the provider.
Focus according to fund documents: Diversified, no sector breakdown 100%
Focus according to fund documents: North America 45%, Europe 45%, Other / unallocated 10%
Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 2.16%, class E EUR Acc is below the median of the asset class (2.42%). On top comes a performance fee of 10% above a hurdle of 6%.
For 10,000 EUR this means roughly 216 EUR per year; the cheapest class with a cost figure is L EUR Acc (LIQID-internal class) (0.89%, from 5,000 EUR).
For 10,000 EUR, no charge on purchase, nothing on redemption at present; the board may charge up to 5% (500 EUR) — therefore not included in the liquidity score.
Based on the PRIIPs key information document of class E EUR Acc, hence comparable across providers. Median: 25 Infrastructure funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The price is the NAV on the valuation day — it is not known when the order is placed and is published only 15 business days later.
complete AML/KYC documents by the subscription cut-off, otherwise postponement to the …
by way of exception 13:00 CET on the last banking business day 20 calendar days before …
Price = NAV per share on this day.
NAV Publication Date = first business day after 14 business days following the Valuation …
after NAV publication: 3 business days after NAV publication
An order placed today is invested in — days (—); the money is due on —. Miss the cut-off and you move to the next dealing day: cut-off —, invested from —.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Valuation day | last calendar day of the month |
| Cut-off | 20 calendar days before Valuation day · 12:00 CET · (before the anchor date) |
| Price | valuation day |
| NAV publication | NAV Publication Date = first business day after 14 business days following the Valuation Date. |
| Payment | after NAV publication: 3 business days after NAV publication |
| Minimum investment | 10,000 EUR |
| Entry charge (max.) | 0% (distributor) |
| Subscription limit | The management may scale back net purchase orders pro rata without prior notice where investment opportunities are limited; rejection/deferral possible at any time |
| KYC / documents | complete AML/KYC documents by the subscription cut-off, otherwise postponement to the next cut-off |
| Revocation | Retail investors: cancellation without penalty within 2 weeks of submission of the purchase order |
| Business day | banks open the whole day for non-automated business in Luxembourg and, where applicable, further places named in the supplement. |
Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 9 Oct 2026 · Documents: 08.
Units can be redeemed quarterly — with a volume limit (Gate), lock-up 24 months. How quickly the money arrives and what happens if many want out at once is set out below.
During the ramp-up phase (until the 2nd anniversary of the first subscription closing, extendable) no …
Price = NAV per share on this day.
NAV at previous quarter-end (—)
at the latest 8 business days after NAV publication (—)
A request made today is paid out on — — — days; from the cut-off to cash it is — days.
Money typically only after more than a year — on average 527 days from decision to cash.
Rank 75 of 112 · rank 10 of 23 in Infrastructure · 12 months lock-up · no fixed redemption fee
Money typically within half a year — on average 162 days from decision to cash.
12 months lock-up — expired for existing holdings · no fixed redemption fee
Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 3 Nov 2025 · score run 16 Oct 2026 · How 527 days become 15 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | quarterly |
| Valuation day | quarter-end |
| Notice | 90 calendar days before redemption day · 12:00 CET |
| Price | quarter-end |
| Payout | 3 business days after NAV publication (latest 8 business days) |
| Gate | 5% net of NAV at the previous quarter-end per quarter; in any event max. the amount under Art. 5 (6) ELTIF Delegated Regulation. |
| Scaled-back portion | scaled-back portion lapses; new request required, no priority |
| Redemption fee (max.) | up to 5% (discretionary) |
| Lock-up | fund-level, 24 months (fund launch) |
| Suspension | Market closure/suspension of trading, absence of price sources, communication/IT failure, foreign exchange/capital transfer restrictions, force … |
| Liquidity tools | Gate of 5% net per quarter, redemption fee of up to 5%, matching with matching fee, scale-back/rejection of purchase orders, suspension |
| Switch / transfer | Transfer to eligible investors only with the prior consent of the management; no secondary market; in addition matching under Art. 19(2a) ELTIF Regulation |
| Compulsory redemption | where investor eligibility ceases/FATCA breaches; dissolution of a share class where the class NAV is below EUR 5m. |
Net redemptions (sell orders less buy orders at the same cut-off, aggregated across all share classes and calculated in EUR) are limited per calendar quarter to 5% of the net asset value of the units outstanding at the end of the previous quarter.
The 5% Gate is a NET figure (sell orders less buy orders for the same cut-off, aggregated across all share classes, calculated in EUR) by reference to the NAV at the end of the previous quarter. Unlike at the sister sub-fund NB Private Equity Open Access Fund, excess orders are REJECTED AND CANCELLED and are expressly NOT carried forward to the next redemption date; investors must place a new order.
Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 9 Oct 2026 · Documents: 08.
5 classes. All cost and risk figures on this page refer to the basis class E EUR Acc; the cheapest class with a cost figure is L EUR Acc (LIQID-internal class) (0.89%, from 5,000 EUR).
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available. 1 class is closed to new subscriptions.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Key information document (PRIIPs KID) created 27 Nov 2025 | 27 Nov 2025 | — |
| Presentation | 31 Mar 2026 | — |
| Key information document (PRIIPs KID) | — | — |
| NAV series secondary source (data portal) | 31 Aug 2026 | Performance (01) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption quarterly, notice period 90 calendar days before redemption day, with 5% gate per quarter. Subscribing today, it takes on average 527 days from decision to cash under the prospectus deadlines; a gate is not factored in.
Ongoing costs of 2.16% p.a. according to the PRIIPs KID for class E EUR Acc; the median of the Infrastructure funds in this database is 2.42%; plus a performance fee of 10%.
From 5,000 EUR in the smallest class in EUR.
Yes. According to our evidence, the fund is open to retail investors in Germany (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the LIQID Infrastructure NXT. Under the prospectus a gate of 5% per quarter applies.
Same asset class, similar sub-strategy.
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GLS Investment Management GmbH · ELTIF 2.0 · annually
KKR · ELTIF · quarterly
Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.