PineBridge Investments, a global multi-asset class asset manager, has launched the PineBridge European Secured Credit Fund, co-managed by portfolio managers Julie Bothamley and Evangeline Lim and global head of credit and fixed income Steven Oh.
The investment objective of the fund is to provide investors with 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.
The fund will seek to achieve these returns from investing in primarily 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 durations. In the current economic climate, we believe this Fund will be attractive to investors looking for yield with lower volatility,” says Oh (pictured). “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 domiciled and regulated in Luxembourg, structured as a SICAV and is registered in 17 countries across Europe.