PineBridge unveils European secured credit fund
New-York headquartered asset manager PineBridge Investments has launched the PineBridge European Secured Credit Fund.
The fund, co-managed by portfolio managers Julie Bothamley and Evangeline Lim as well as by Steven Oh, global head of Credit and Fixed Income.
The fund seeks income returns and capital preservation from a diversified portfolio of European sub-investment grade debt obligations issued by corporations in various industries and geographical regions.
It will invest primarily in senior secured obligations.
“Senior secured debt, particularly, bank loans, carry a higher recovery rate and rank at the top of the capital structure. On a risk adjusted basis, this allows investors to benefit from wider spreads and shorter duration. In the current economic climate, we believe this fund will be attractive to investors looking for yield with lower volatility,” said Steven Oh.
“Our integrated global platform, combined with our stable and experienced team with senior leadership working together for over 16 years, makes us uniquely positioned to help clients take advantage of the opportunities in European leveraged loans.”
The PineBridge European Secured Credit Fund will be registered as a Luxembourg Sicav and is registered in 17 countries across Europe (Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Italy, Norway, Portugal, Slovakia, Spain, Sweden, Switzerland, UK, Netherlands and Luxembourg).
PineBridge managed $80.3bn of assets as of 31 March 2017.