Press Release
Neuberger Launches First Interval Fund, Providing Private Credit Solutions to Investors
New York, August 20, 2025 – Neuberger Berman, a global, private, employee-owned investment manager, is pleased to announce the launch of NB Asset-Based Credit Fund (Ticker: NABFX) (the “Fund”), the firm’s first interval fund, which offers a private credit solution for individual investors.
The Fund, managed by Neuberger’s Specialty Finance group, seeks a high-level of current income through an actively managed portfolio focused on short duration, asset-based credit investments in various sectors including receivables lending, consumer, small business, and real asset sectors, as well as revenue-based loans and public asset-based securities. The vehicle is registered under the Investment Company Act of 1940 as a closed-end fund structured as an interval fund and will continuously offer its shares on a daily basis. The Fund intends to qualify for 1099 tax reporting, has low investment minimums, daily valuations and limited quarterly liquidity opportunities via repurchase offers.
“We are excited to provide individual investors with investment opportunities that have historically been offered primarily to institutions,” said Peter Sterling, Head of Neuberger Specialty Finance group. “We aim to deliver high current income that is uncorrelated to many other credit investments and diversification to portfolios across varying market environments, and the introduction of our first interval fund continues that goal."
The Fund launch is timely, as the asset-based credit market has grown to over $5 trillion, a reflection of continued retrenchment from traditional bank lenders.1 As individual investors broaden portfolio allocations to alternative strategies, the Fund can serve as an opportunity for diversified income and return streams. The Fund is expected to benefit from the Neuberger Specialty Finance team’s strong industry relationships – offering opportunity to participate in loan origination – coupled with an average of over 20 years of experience in investment management within a wide range of partnerships with well-established companies.
“Financial advisors are growing increasingly sophisticated in their use of alternative assets in client portfolios. The NB Asset-Based Credit Fund offers an accessible structure for investors to achieve that goal.” said Scott Kilgallen, Managing Director and Head of North American Intermediary at Neuberger. “The Fund is launching at a critical moment as financial advisors are looking for diversified sources of credit returns, and Neuberger is well positioned to capitalize with a seasoned team whose deep industry network enables opportunities for attractive deal flow origination and structuring.”
The Fund’s announcement comes just months after the final close of NB Specialty Finance Fund III LP, which is managed by the same investment professionals and raised over $1.6 billion, exceeding its original $1 billion target, with an investor base comprised of more than 40 institutions across from across the United States, Canada, the Middle East and East Asia. Neuberger Specialty Finance launched in 2018 and currently manages over $4 billion across 50+ portfolio companies and various investment vehicles.
About Neuberger Berman
Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $538 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger's investment philosophy is founded on active management, fundamental research and engaged ownership. The firm has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information, including www.nb.com/disclosure-global-communications for information on awards. Data as of June 30, 2025.
Media Contact:
Fiona Kehily, +44 20 3214 9087, Fiona.Kehily@nb.com