Neuberger Berman has rolled out its first interval fund, the NB Asset-Based Credit Fund, providing individual investors with a new pathway into private credit. Managed by the firm’s Specialty Finance group, the fund aims to deliver high levels of current income through a portfolio of short-duration, asset-based credit investments spanning receivables lending, consumer and small business financing, real assets, revenue-based loans, and public asset-backed securities. 

“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,” said Peter Sterling, head of Neuberger’s Specialty Finance group. 

The launch reflects rising demand from financial advisors and their clients for alternative income strategies in accessible structures. “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,” added Scott Kilgallen, managing director and head of North American Intermediary at Neuberger. 

The announcement follows the successful close of NB Specialty Finance Fund III LP at more than $1.6 billion, well above its $1 billion target. Since its 2018 inception, Neuberger’s Specialty Finance platform has grown to manage over $4 billion across more than 50 portfolio companies and multiple vehicles, solidifying its presence in the fast-expanding asset-based credit space. 

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