Maples Advises Neuberger Berman on the Launch of a £1.3 Billion Climate Transition Multi-Asset Credit Fund

Maples and Calder, the Maples Group's law firm, was pleased to have advised Neuberger Berman, on the launch of Climate Transition Multi-Asset Credit Fund (the "Fund").  The Fund is a sub-fund of Neuberger Berman Investment Fund II plc. The Fund's strategy invests across a broad array of credit sectors, with the focus on sub-IG, aiming to outperform cash rate by 4-5% p.a. over the cycle. It has been designed to align the portfolio with the Paris Climate Agreement, delivering a portfolio with net zero emissions by 2050.  Interim carbon reduction targets have been set for 2025.

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager.  The firm manages a range of strategies - including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds - on behalf of institutions, advisors and individual investors globally.  With offices in 25 countries, Neuberger Berman’s diverse team has over 2,300 professionals.  In 2020, the UN's PRI named Neuberger Berman 'a leader', a designation awarded to fewer than 1% of investment firms.

A dedicated team of Funds & Investment Management lawyers from the firm's Dublin office acted as Irish legal counsel to Neuberger Berman Investment Funds II plc and was led by Partners, Ian Conlon and Niamh O'Shea and assisted by Associate, Niamh Maguire.