Neuberger Berman Unveils Long/Short Mutual Fund Of Funds

Dec 20 2013 | 12:30pm ET

Neuberger Berman Group has launched its second mutual fund of hedge funds.

The Neuberger Berman Long Short Multi-Manager Fund comes a year-and-a-half after the firm first entered the space with its Absolute Return Multi-Manager Fund. As the name suggests, the new fund will invest with long/short equity hedge fund managers, including Cramer Rosenthal McGlynn, Lazard Asset Management, Levin Capital Strategies, SLS Management and Turner Investments.

The new fund features a minimum investment requirement of just $1,000.

"We believe 'liquid alternatives'—hedge fund strategies in a mutual fund format—can present attractive solutions for investors who have not been able to access traditional hedge funds as well as for defined contribution plan sponsors seeking to provide their participants with a full range of investment options," David Kupperman, a managing director with Neuberger Berman's hedge fund solutions group and a co-manager of the new fund, said.

Cramer Rosenthal will handle the new fund's global investments, Levin utilities, SLS restructuring and Turner healthcare.

The Neuberger Berman Absolute Return fund has garnered $630 million in assets since its launch last year.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of