Neuberger Berman, a private, independent, employee-owned investment manager, has launched a UCITS strategy investing primarily in collateralised loan obligations (CLO) mezzanine debt securities. The Neuberger Berman CLO Income Fund launched with $77 million of client investment. The fund is managed by Pim van Schie, Joseph Lynch, and Stephen Casey, who are all senior portfolio managers in the firm’s $43 billion non-investment grade and structured credit team.

The fund aims to generate an attractive risk-adjusted return relative to comparably rated corporates with minimal duration by investing primarily in US ...