A pair of multi-manager liquid alternative mutual funds is adding a subadvisor.

Thierry Lucas Portland Hill Capital Founder, Chief Investment Officer

New York City-based Neuberger Berman [profile] filed to reveal the addition of London-based Portland Hill Capital to the subadvisor lists for both the two-star, $1.6-billion Neuberger Berman Absolute Return Multi-Manager Fund and the $37.4-million Neuberger Berman Long Short Multi-Manager Fund. For both funds, Portland Hill will run the European event driven and equity long/short strategy.

Portland Hill had about $182 million in AUM as of June 30. Chief investment officer Thierry Lucas founded the fundamental, bottom-up boutique in 2011, and it specializes in "European catalyst-driven equity ideas. It manages Cayman and Luxembourg-based offshore funds, UCITs, and managed accounts.

The giant Neuberger Absolute Return Multi-Manager Fund now has 13 subadvisors. Beyond Portland Hill, the other 12 are: Blue Jay Capital Management, Cloud Gate Capital, Cramer Rosenthal McGlynn, Gamco, Good Hill Partners, GSA Capital Partners, Lazard, Levin Capital Strategies, SLS Management, Sound Point Capital Management, TPH Asset Management, and Visium Asset Management.

The much-smaller Neuberger Long Short Multi-Manager Fund now has 8 subadvisors, all of which already subadvise the Absolute Return Multi-Manager Fund, too. They are: Blue Jay, Cloud Gate, Cramer Rosenthal McGlynn, Levin, SLS, TPH, and now Portland Hill. 

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