Neuberger's second real estate secondaries fund closed last year with more than $1 billion in commitments, according to SecLink Data.
The transaction would reportedly value the Scottish luxury handbag maker at nearly £100 million and allow existing investor BGF to exit its holding.
The single-asset vehicle extends B2B software investor Viking Growth's hold on a recruitment and HR software platform.
The deal marks Reality Growth's second investment since launching earlier this year as a dedicated GP stakes platform.
Potential backers reportedly sought a lower valuation for the loans held in the continuation fund.
The single-asset deal centers on a health and social care software provider first backed by Activa in 2019.
The firm is reportedly exploring the sale at a valuation exceeding €8 billion after previous transactions brought Silver Lake, ADIA, and CapitalG onto the Italian software company's cap table.
The majority stake was acquired from CanTex Capital in a secondary transaction, alongside a New York-based global investor.
The investment, made from Brookfield's debut real estate secondaries fund, enabled EQT to exit its stake in 33 light industrial assets across Sweden.
Investors were offered a modest discount on their stakes in the Annington structure ahead of a forthcoming secondary deal.
