Investment firm Neuberger Berman acquires securitized credit mandate from Railpen.
UK Pension Fund Railpen Expands Partnership with Neuberger Berman in Securitised Credit Investment
The UK pension fund Railpen has given American investment firm Neuberger Berman a new securitised credit mandate, expanding their existing partnership that currently manages over £3 billion in allocated credit assets.
This new mandate, structured as a Qualifying Investor Alternative Investment Fund (QIAIF), will primarily invest in Collateralised Loan Obligations (CLOs), Asset-Backed Securities (ABS), Commercial Mortgage-Backed Securities (CMBS), and Mortgage-Backed Securities (MBS).
The investment portfolio under this new mandate will be co-managed by Joe Lynch (multisector fixed income), Pim van Schie (structured credit), and Jose Pluto (securitised products). This expansion reflects Railpen's strategy to diversify within credit markets under strong technical capabilities and evolving institutional investor needs.
Railpen, which manages approximately £34 billion in assets for over 350,000 members, has found success in its partnership with Neuberger Berman. The collaboration has been successful both operationally and through their investment approach.
Neuberger Berman, on the other hand, manages around $50 billion (£37.6 billion) globally in securitised credit. Ed Jones, the head of UK institutional client business at Neuberger, emphasized their commitment to serving UK institutional clients like Railpen through these mandates.
This extension of Railpen and Neuberger's partnership is a testament to their successful collaboration. The new investment will bring the allocated credit amount to above £3 billion, adding to an existing partnership between Railpen and Neuberger. No advertisements were extracted, and no vague references were used.
- The expansion of Railpen's partnership with Neuberger Berman in securitized credit investment is a strategic move to diversify within the credit markets, under the strong technical capabilities of both teams.
- The new mandate between Railpen and Neuberger Berman, primarily investing in securitized products such as Collateralized Loan Obligations (CLOs), Asset-Backed Securities (ABS), Commercial Mortgage-Backed Securities (CMBS), and Mortgage-Backed Securities (MBS), is expected to further strengthen their partnership in finance.
