Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Industry Updates

Neuberger Berman closes $450 million CLO risk pool

Friday, July 28, 2017
Opalesque Industry Update - Neuberger Berman, a private, independent, employee-owned investment manager, today announced the final closing of its CLO risk retention vehicle, Neuberger Berman Loan Advisers, with approximately $450 million of committed capital.

Through Neuberger Berman Loan Advisers, Neuberger Berman has partnered with its investors to provide strategic capital to its CLO management business in order to comply with US and EU CLO risk retention rules. Neuberger Berman and predecessor firms have served as collateral manager on 24 CLOs since 2004.

Commenting on the final closing, Brad Tank, CIO of Fixed Income said, "We are very excited to be able to partner with a number of our key investors on our CLO management business going forward. Our CLO management platform is an integral part of our $42 billion Non-Investment Grade Credit business. Neuberger Berman Loan Advisers allows us to continue to be an active CLO issuer over the next several years while at the same time providing our investors an opportunity to invest in the platform alongside us. We believe that the combination of our Non-Investment Grade Credit team's experience and the vehicle's strategic capital will position our CLO management business well for the future."

Neuberger Berman's Fixed Income business has $123 billion in assets under management across Global Investment Grade, Global Non-Investment Grade, Emerging Markets, Opportunistic/Unconstrained, and Municipals.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1