Neuberger Berman has become the sole lead investor in a continuation vehicle for Axis Portable Air, a move designed to extend ownership and provide additional capital for the climate control equipment provider. The private equity firm will partner with Tailwind Capital to structure this single-asset vehicle, which offers existing investors in Tailwind-managed funds the choice to exit or maintain exposure. Financial terms remain undisclosed.

Axis Portable Air, identified as a high-conviction asset within Tailwind's portfolio, will benefit from this extended ownership duration to support its next growth phase. Managing Directors Boriana Karastoyanova and Michael Pan emphasized the transaction aligns with Neuberger's strategy to invest in market-leading companies with sustainable growth potential. This development highlights the increasing sophistication of private equity secondaries, providing liquidity options while preserving long-term value for core investors.