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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.