| CATEGORY: NEW ISSUES |
Neuberger to list distressed debt fund, reports |
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Mon 15 Mar 2010
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LONDON (SHARECAST) - Neuberger Berman, the US asset manager spun out from failed investment bank Lehman Brothers, is reportedly planning to list its first fund dedicated to distressed debt on the London Stock Exchange.
The Financial Times reports that ‘the move is designed to tap into an expected pent-up demand from investors who want increased exposure to the sector but want liquidity in their underlying investment.’
The paper says the group is looking to raise more than $150m, citing people familiar with the matter.
The initial public offering is expected in the next few months, it added.
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