Pinebridge Investments Unveils New Secured Debt Liquid Alt Fund

May 11 2017 | 11:53pm ET

Global multi-asset alternative investment manager PineBridge Investments has launched a new European secured credit fund that will invest in a diversified portfolio of sub-investment grade senior secured debt obligations issued by corporations in various industries and geographical regions.

The new fund, named the PineBridge European Secured Credit Fund, aims to provide investors with income and capital preservation, Pinebridge said in a statement, and will be co-managed by portfolio managers Julie Bothamley and Evangeline Lim alongside global head of credit and fixed income Steven Oh.

“Senior secured debt, particularly, bank loans, carry a higher recovery rate and rank at the top of the capital structure,” said Oh in a statement. “On a risk-adjusted basis, this allows investors to benefit from wider spreads and shorter durations. In the current economic climate, we believe this fund will be attractive to investors looking for yield with lower volatility.”

The new fund will be structured as a SICAV and domiciled in Luxembourg. It will be passported for sale in Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Italy, Norway, Portugal, Slovakia, Spain, Sweden, Switzerland, the UK and the Netherlands.

PineBridge Investments is a global asset manager with investment capabilities in multi-asset, fixed income, equities and alternatives. The company managed $80.3 billion as of March 31, 2017 for a global client base that includes institutions, insurance companies, and intermediaries.

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