Neuberger Berman is planning to launch a fund of hedge funds next month.
Investment Week reported that the new fund will be managed by seven underlying managers using a range of hedge fund strategies including equity long/short, event driven and credit relative value. Launching in the UCITS format, the offering be only be available to European investors.
The new fund is Neuberger’s second absolute return product launched in the U.K. in the last several months.
With $214 billion in assets under management as of June 30, New York-based Neuberger is one of the world’s leading employee-controlled money managers. It provides solutions for fund managers across equities, fixed income, hedge funds and private equity.