Thursday, 27 August 2015
Last updated 3 min ago
Dec 20 2013 | 11:30am 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…