Neuberger Berman loan fund raises over $500m

18 Apr 2011

Asset manager Neuberger Berman has raised approximately $507m for its floating rate income fund, far exceeding the $200m it initially targeted.

NB launched the fund to investors in February, aiming at European and UK investors that would otherwise struggle to gain exposure to floating rate credit products.

A spokesman for NB said that, despite raising more than planned, the company still expected to be fully invested within one to three ...

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