Crossroads Group

Founded in 1981 as Bigler/Crossroads, the firm initially focused on investing as a limited partner in venture capital funds. Over time, it expanded its scope to include other private equity strategies such as middle-market U.S. leveraged buyouts and mezzanine capital. The firm was also recognized as an early participant in the private equity secondary market, purchasing existing interests in private equity partnerships.

During its 22-year history as an independent entity, the firm raised 16 Crossroads Funds and established relationships with over 200 private equity firms. A significant milestone occurred in 1999 when the firm acquired a $340 million portfolio of direct investments in large to mid-cap companies from Electronic Data Systems.

The Crossroads Group was acquired by Lehman Brothers in October 2003 to expand its private equity fund investment management business. Following the 2008 bankruptcy of Lehman Brothers, the business was transitioned to Neuberger Berman as part of a management buyout in 2009.