Five industry-wide defined contribution schemes have joined forces to invest €216m in private equity. : One of the big challenges we face, both in the financial world and in everyday life, is how to overcome our biases Market bubbles would not happen in a perfect world. But humans are not perfect and our economies are inherently unstable. Neuberger Berman has been selected by a consortium of Italian pension funds to manage a private equity fund-of-funds worth €216m.