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Neuberger Berman Launches CLO Income Fund

Neuberger Berman has launched a UCITS strategy investing primarily in collateralised loan obligations (CLO) mezzanine debt securities with $77mn of seed client investment. The fund is managed by Pim van Schie, Joseph Lynch, and Stephen Casey, senior portfolio managers in Neuberger Berman’s $43bn non-investment grade and structured credit team. “CLO debt can offer economic and fundamental advantages over other asset classes and is typically issued with significant credit enhancement to absorb credit losses in the underlying loan portfolios. Neuberger Berman’s combined strengths of fundamental credit research, CLO structuring and legal expertise offers a unique position to seek to maximise this investment opportunity,” van Schie...