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NB Asset-Based Credit Fund

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NB Asset-Based Credit Fund

Interval Funds | Private Credit

NB Asset-Based Credit Fund

YTD RETURN

0.00%

Overview
The Fund seeks to invest in an actively managed portfolio focused on income-generating, asset-based credit investments in the receivables lending, consumer & small business, and hard asset sectors

Why Invest

Current Income and Diversified Asset Base

Asset-based credit investments derive returns from interest incomes, recurring revenues, fees or other types of cash flows of diverse underlying assets ranging from consumer, small business, financial and physical assets

Differentiated Sourcing Model and Trusted Partner

Investment Team has a strong industry network with decades of experience, creating opportunities for strong deal flow and structuring highly negotiated lending transactions

Access to Private Credit Markets via an Interval Fund Structure

Registered closed-end fund that is operated as an interval fund with form 1099 tax reporting, low investment minimums, daily valuations and quarterly offers to repurchase 5% of its outstanding shares

Why Asset-Based Credit
We focus on structuring bespoke debt solutions for originators and delivering access to these Asset-Based Credit investments to investors
Attractive Income
Risk premium from proprietary deal sourcing and operational complexity.
Cashflow generating and amortizing asset profiles
Downside Mitigation
Potential Downside Mitigation: contractual covenants, bankruptcy remoteness, diversity of collateral, granular asset management, performance tests & triggers
Differentiated Returns
Highly diversified pools across U.S. population given the small notional size.
Short duration and amortization leads to low correlation
Inflation Hedge
Investments are often secured by tangible assets that increase in value during periods of inflation
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Fund Facts
Portfolio Management Team
Peter Sterling
Managing Director
San Francisco
Zhengyuan Lu
Managing Director
New York
David G. Kupperman, PhD
Co-Head, NB Alternative Investment Management
New York
Peter Sterling, Managing Director
Peter Sterling, Managing Director, is Head of Neuberger Berman’s Specialty Finance team. Prior to joining the firm in 2018, Peter served as President of Coastland Capital, an asset manager within the relative value and specialty finance strategies. Peter served as the Portfolio Manager for Coastland’s specialty finance vehicle which invested across consumer and small business loans/receivables with an emphasis on the Fintech space. The group underwrote and purchased several hundred million dollars of varying assets across the whole loan, receivable, and securitized ABS markets. Prior to joining Coastland, Peter underwrote and purchased non-performing loan investments within the consumer and commercial credit card industries. From 2001-2005, Peter served as a Portfolio Manager focusing on credit arbitrage strategies at Marin Capital and previously at KBC Alternative Investment Management Ltd., a multi-strategy asset manager with several billion dollars under management. During his tenure, Peter co-managed a large credit portfolio large focused on capital structure arbitrage. Previous to that, Peter was initially hired into D.E. Shaw’s Financial Products group which was subsequently sold to KBC Bank, managing their U.S. convertible bond arbitrage portfolio. Prior to that, Peter traded equity derivatives for Gateway Partners on the floors of the American and Philadelphia Stock Exchanges. Peter received a BA with a dual major in Economics and Psychology from Cornell University.
Zhengyuan Lu, Managing Director
Zhengyuan Lu, is a Managing Director on Neuberger Berman’s Specialty Finance team. Prior to joining Neuberger Berman, Lu was a Managing Director and head of the Warehouse Financing Group with SVB Financial Group (“SVB”), where he was responsible for debt investments in the FinTech sector. Prior to SVB, Lu was in a similar capacity with Victory Park Capital. Prior to that, Lu was a senior vice president and head of Capital Markets and Treasury at OnDeck, where he spearheaded all capital markets and fundraising activities. This also included the management of OnDeck Marketplace, the crowd funding platform of OnDeck and Treasury and Cash Management. As a member of OnDeck’s Executive and Management Committee, Lu was involved in all aspects of its strategic and operational initiatives. Prior to that, he was a managing director and head of the Asset Financing Group at Gleacher & Company, where he was responsible for the origination and financing of esoteric assets. Before joining Gleacher, Lu was a managing director and head of Structured Products Group at Keefe, Bruyette & Woods (now Stifel Financial), where he ran all banking and trading activities for structured products. He was a senior vice president/executive director with Fortis Bank and WestLB AG. Lu was also a portfolio manager at PPM America (asset management arm of Prudential U.K.). Lu holds a B.A in Economics and Computer Science from Middlebury College.
David G. Kupperman, PhD, Co-Head, NB Alternative Investment Management
David Kupperman, PhD, Managing Director, is Co-head of the NB Alternative Investment Management team and a member of its Investment Committee. He is also on the Investment Committee of the Specialty Finance Group which he co-founded, as well as Chairman of the NB Insurance-Linked Strategies Underwriting Committee and a Director of NB Reinsurance Ltd. David also sits on the firm’s Asset Allocation Committee and the Investment Risk Committee. Prior to joining the firm in 2011, David was a partner and member of the investment committee at Alternative Investment Management, LLC. Before that, he was a managing director and member of the executive committee at Paloma Partners Management Company, a multi-strategy hedge fund focused on relative value trading strategies. Previously, David was a principal at The Carlyle Group, one of the world’s largest alternative investment managers. Prior to joining Carlyle, he was a vice president in both the private equity and portfolio strategy groups at Goldman, Sachs & Co. David is on The Johns Hopkins Physics & Astronomy Advisory Council and the Krieger School Advisory Board. David holds an MA and a PhD in physics from Johns Hopkins University and a BA and an ME from Cornell University.
Jeff Majit, CFA
Co-Head of NB Alternative Investment Management
Los Angeles
Anthony D. Tutrone
Head of NB Alternatives
New York
Jeff Majit, CFA, Co-Head of NB Alternative Investment Management
Jeff Majit, CFA, Managing Director, is Co-head of the NB Alternative Investment Management (“NBAIM”) team and a member of its Investment Committee. He is also Co-PM of the Tactical Private Income strategy and a member of the Investment Committee of the Specialty Finance Group. Prior to co-founding NBAIM in 2002, Jeff was in the global power and project finance group within the investment banking division of Lehman Brothers, where he worked on M&A advisories as well as capital markets financings. Jeff graduated Phi Beta Kappa from Amherst College, earning a BA with concentrations in economics and Asian languages and civilizations. Jeff has been awarded the Chartered Financial Analyst designation.
Anthony D. Tutrone, Head of NB Alternatives
Anthony Tutrone is the Global Head of NB Alternatives and a Managing Director of Neuberger Berman. He is a member of all Neuberger Berman Private Equity’s Investment Committees. Anthony is also a member of Neuberger Berman's Partnership, Operating, and Asset Allocation Committees. Prior to Neuberger Berman, from 1994 to 2001, Anthony was a Managing Director and founding member of The Cypress Group, a private equity firm focused on middle market buyouts that managed approximately $3.5 billion of commitments. Anthony began his career at Lehman Brothers in 1986, starting in Investment Banking and in 1987 becoming one of the original members of the firm’s Merchant Banking Group. This group managed a $1.2 billion private equity fund focused on middle market buyouts. He has been a member of the board of directors of several public and private companies and has sat on the advisory boards of several private equity funds. Anthony earned an MBA from Harvard Business School and a BA in Economics from Columbia University.
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