Neuberger Berman has launched a collateralised loan obligation (CLO) strategy, focusing on BBB-rated debt.
The Neuberger Berman Investment Grade CLO Debt Fund will be managed by senior portfolio managers Pim van Schie, Joseph Lynch, and Stephen Casey.
The new fund is expected to focus on BBB-rated CLO debt. It adds to Neuberger Berman’s existing $685m CLO Income UCITS fund, which is focused on non-investment grade CLO debt.
Fekko Ebbens, head of institutional business EMEA at Neuberger Berman, said: “We believe CLOs have many attributes that investors look for within their bond portfolios, including attractive yield and diversification.
“As the adoption of CLOs by a broad cross-section of investors continues to expand, we are pleased to be able to extend our offering with this QIAIF fund designed for sophisticated investors.”
