PineBridge Investments has launched the European Secured Credit fund, targeting yield with lower volatility.
The new fund will invest in corporate debt obligations from various regions and invest primarily in senior secured obligations.
The fund, which will be run by the leveraged loans team at the $80bn multi-asset manager, will be a Sicav and domiciled in Luxembourg.
It will be co-managed by portfolio managers Julie Bothamley and Evangeline Lim as well as Steven Oh, global head of credit and fixed Income at the company.
Oh says: “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.
“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.”