Fund database › Private Equity
LIQID Asset Management GmbHLU2752403621Class E EUR Acc
LIQID Private Equity NXT brings a co-investment strategy from the Neuberger Berman universe to German retail investors as an ELTIF in custody-account form — small/mid market up to large cap in Europe and North America, launched in 2024.
The two-year build-up phase ended in June 2026; since then redemptions are possible quarterly with roughly one quarter's notice, and net redemptions are capped. Since the September 2026 prospectus the fund may, at its discretion, levy a redemption charge in its own favour, expressly as a liquidity management tool. In addition, the platform offers monthly matching with other investors as a second exit route.
Subscription from EUR 10,000, savings-plan eligible from small monthly instalments — the lowest-threshold ongoing access in the database; distribution focused on Germany and a few markets, recommended holding period five years.
A white-label variant of the same strategy as the NB Private Equity Open Access Fund — investors seeking the strategy find it here in a direct-distribution model with savings plans, there in classic bank distribution: the same engine, two doors.
Figures for class E EUR Acc (LU2752403621) · product data 9 Oct 2026 · sources: prospectus (as at September 2026; CSSF authorisation of the sub-fund 18 Mar 2024), PRIIPs-KID — full list under 08 documents.
Since the data series began in Jul 2024, the unit price has gained 8.1% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
25 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 Mar 2024; a reliable NAV series of the class is available from Jul 2024.
What the prospectus permits: Direct private equity co-investments alongside leading PE houses; buy-out up to 85%, growth up to 10%, preferred equity/private credit 10–15%; opportunistic secondary market; approx. 100 portfolio companies
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
32 holdings; the five largest account for 22.6% of the fund. 11.8% is held in the liquidity reserve — enough for 7 months of maximum redemptions.
How the reserve is invested: France BTF (zero coupon) 5.4% · Germany Bubill (zero coupon) 4.5% · Spain Letras del Tesoro (zero coupon) 1.9%. It covers 7 months of the maximum net redemption (at most 20% per year under the gate) — what that means for redemptions is in 06.
Focus according to fund documents: Diversified, no sector breakdown 100%
Focus according to fund documents: North America 48%, Europe 48%, Other / unallocated 5%
Among the largest positions: 1 primary fund.
Positions and shares according to the provider; 8.9% is not allocated to any block in the source; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 2.83%, class E EUR Acc is above the median of the asset class (2.60%). On top comes a performance fee of 12.50% above a hurdle of 8% — without a high-water mark.
For 10,000 EUR this means roughly 283 EUR per year; the cheapest class with a cost figure is L EUR Acc (LIQID-internal class) (1.16%, from 5,000 EUR).
For 10,000 EUR, no charge on purchase and up to 500 EUR on redemption.
Based on the PRIIPs key information document of class E EUR Acc, hence comparable across providers. Median: 35 Private Equity 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 documentation by Subscription Cut-Off, otherwise postponement
by way of exception 13:00 CET on the last business day 20 calendar days before the …
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; made available on the following business day |
| Payment | after NAV publication: 3 business days after NAV publication |
| Minimum investment | 10,000 EUR |
| Entry charge (max.) | 0% (distributor) |
| Subscription limit | The Board may reject, defer or scale back subscription orders in whole or in part at any time |
| KYC / documents | complete AML/KYC documentation by Subscription Cut-Off, otherwise postponement |
| Revocation | Retail: cancellation without penalty within 2 weeks of submission of the subscription 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.
No redemption right during the ramp-up period …
NAV per unit less redemption fee (up to 5%)
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 within half a year — on average 162 days from decision to cash.
Rank 33 of 112 · rank 7 of 38 in Private Equity · no lock-up · no fixed redemption fee
Confidence medium — document older than 18 months · prospectus as at 18 Mar 2024 · score run 16 Oct 2026 · How 162 days become 38 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; only to the extent that sufficient UCITS-eligible assets within the meaning of the ELTIF Delegated Regulation are … |
| 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/trading suspension, missing price sources, communication/IT failure, transfer restrictions, force majeure, suspension at target … |
| Liquidity tools | Gate of 5% net per quarter (explicitly designated an LMT "redemption gate" since the September 2026 prospectus), redemption fee of up to 5%, further … |
| Switch / transfer | transfer to eligible investors only with the prior consent of the board of directors; dates set by the Board; in addition matching under. |
| Compulsory redemption | Loss of investor eligibility/Prohibited Persons; dissolution of a share class where the class NAV falls below EUR 5m. |
Redemptions are possible on a quarterly basis after the end of the ramp-up phase; the request must be submitted 90 calendar days before the redemption date. What is capped is not gross redemptions but NET redemptions - the amount by which redemption requests exceed subscription requests at the cut-off - at 5% of the NAV of the units outstanding (across all share classes, in the fund currency) as at the end of the …
The 5% limit relates to NET redemptions, that is, the excess of redemption requests over subscription requests at the cut-off, measured against the NAV of the units in issue at the end of the preceding quarter across all share classes.
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.
4 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) (1.16%, 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.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Prospectus | Jan 2026 | — |
| Key information document (PRIIPs KID) | 5 Nov 2025 | — |
| Annual / semi-annual report | 31 Dec 2025 | — |
| Annual / semi-annual report | 30 Jun 2025 | — |
| Presentation | Aug 2026 | — |
| NAV series secondary source (data portal) | 31 Jul 2026 | Performance (01) |
| Positions and reserve | 31 Dec 2025 | Portfolio (03) |
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 162 days from decision to cash under the prospectus deadlines; a gate is not factored in.
Ongoing costs of 2.83% p.a. according to the PRIIPs KID for class E EUR Acc; the median of the Private Equity funds in this database is 2.60%; plus a performance fee of 12.50%.
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 Private Equity NXT. Under the prospectus a gate of 5% per quarter applies.
Same asset class, similar sub-strategy.
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Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.