Neuberger Berman wins US$215 million risk mandate

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MEDIA RELEASE Neuberger Berman, a private, independent, employee-owned investment manager, has been appointed as the manager of a US$215 million mandate for the New Zealand Superannuation Fund (NZ Super Fund).

 The mandate will allocate to a customized risk-arbitrage strategy, overseen by Neuberger Berman’s Principal Strategies Group. The objective of the mandate is to generate uncorrelated absolute returns arising from mispricing opportunities related to corporate activity such as mergers and acquisitions, corporate restructurings and public offerings. 

Joseph Rotter, Head of the Principal Strategies Group at Neuberger Berman, commented:  “As a world class sovereign wealth fund, NZ Super Fund’s approach of building deep partnerships with its mandate managers aligns well with Neuberger Berman’s history and philosophy. We look forward to a long and successful partnership with the NZ Super Fund.”

Paul O’Halloran, Managing Director at Neuberger Berman Australia, added: “We believe the risk-focused approach undertaken by our investment team is key in driving returns that are generally uncorrelated to broad equity markets and other traditional asset classes,” he added.

As of end September 2018, the Neuberger Berman Principal Strategies Group manages over US$800 million in assets on behalf of institutions, corporations and private individuals globally. The team has been managing event-driven strategies together since 2013.