Neuberger Berman gains securitised credit mandate from Railpen

UK pension fund Railpen has given American investment firm Neuberger Berman a securitised credit mandate.

The mandate is structured as a qualifying investor alternative investment fund (QIAIF). The fund will primarily invest in collateralised loan obligations, asset-backed securities, commercial mortgage-backed securities and mortgage-backed securities.

The investment portfolio 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 mandate adds to an existing partnership between Railpen and Neuberger, which already includes a £2bn multi-asset credit strategy launched in July last year. The new investment will bring the allocated credit amount to above £3bn.

“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,” says Craig Heron, director of public markets at Railpen.

Railpen has approximately £34bn of assets under management, which it invests on behalf of over 350,000 members.

Neuberger manages over $50bn (£37.6bn) in securitised credit globally.

Ed Jones, head of UK institutional client business at Neuberger, comments: “This extension of our relationship with Railpen is a testament to the successful collaboration we have built, both operationally and through our investment approach.”