UK pension fund manager Railpen has awarded a new securitised credit mandate to investment manager Neuberger Berman, aiming for “additional exposure to liquid securitised credit”.
The mandate, structured as a Qualifying Investor Alternative Investment Fund within the Neuberger Berman Investment Funds II plc umbrella, will invest primarily in securitised debt securities. These include collateralised loan obligations, asset-backed securities, commercial mortgage-backed securities and residential mortgage-backed securities.
It will be co-managed by Joe Lynch, senior portfolio manager for multisector fixed income; Pim van Schie, senior portfolio manager for structured credit and Jose Pluto, portfolio manager for securitised products.
The new mandate expands on Railpen’s existing £2 billion multi-asset credit strategy with Neuberger, launched in July 2024.
Railpen’s green investment focus
Ed Jones, head of UK institutional client business at Neuberger, commented: “This extension of our relationship with Railpen is a testament to the successful collaboration we have built, both operationally and through our investment approach. We are pleased to continue this partnership through the new securitised credit solution.”
Craig Heron, director of public markets at Railpen, said: “Neuberger’s deep expertise in credit helps Railpen to deliver long-term value for our members. In today’s complex investment environment, it is essential to work with partners who not only bring strong technical capabilities but also understand the evolving needs of institutional investors. I’m pleased that Kunaal Vora and the team at Railpen were able to deliver this addition to the partnership with Neuberger.”
