Investment Firm Neuberger Berman Partners with Blackstone in Purchase of Sustainability Software Developer Sphera

In a significant move, Neuberger Berman Capital Solutions (NBCS) has invested in Sphera, a leading sustainability and operational risk management software platform. This investment marks a continued partnership between Blackstone and Sphera, following the acquisition of the company by Blackstone in 2021 for a valuation of $1.4 billion.

NBCS's investment is intended to support Sphera's continued expansion. The investment was made in recognition of Sphera's differentiated, industry-leading operational risk software and solutions. NBCS praised Sphera for its innovative approach and expressed confidence in the management team for executing with discipline and consistency.

Blackstone's Eli Nagler and Kelly Wannop expressed their pleasure at continuing their partnership with Sphera. They commended Sphera's growth and product innovation during Blackstone's investment, which has cemented its industry-leading position.

Founded in 2014, Sphera offers software, data, and consulting services aimed at helping organizations proactively manage their performance and achieve their enterprise sustainability goals. The company currently serves over 8,500 customers and one million users in 100 countries.

Sphera's services cover areas including Environment, Health, Safety & Sustainability (EHS&S), Life Cycle Assessment (LCA), Process Safety Management (PSM), Product Stewardship, Supply Chain Transparency, and Sustainability Consulting.

Paul Marushka, Sphera's CEO and President, stated that the investment will enable the company to "accelerate innovation, expand our global reach and continue empowering organizations to navigate complexity and drive sustainable performance."

The partnership between Blackstone and Neuberger Berman is seen as a strong endorsement of Sphera's vision, team, and the value they deliver to customers. Sphera's CEO, Marushka, also expressed delight at NBCS joining as a strategic partner alongside Blackstone, calling it a strong endorsement of Sphera's vision, team, and the value they deliver to customers.

With the addition of NBCS, Blackstone's private equity funds will retain a majority stake in Sphera following the investment. The exact terms of the deal were not disclosed.

This investment comes at a time when the need for sustainable and responsible business practices is more important than ever. Sphera's software and services are designed to help organizations navigate this complexity and achieve their sustainability goals. With the support of its strategic partners, Sphera is well-positioned to continue its growth and innovation in the years to come.