Nuveen Investments Inc., the asset manager owned by Madison Dearborn Partners LLC, plans to start a fund to buy corporate debt, the firm said in a prospectus filed today with the U.S. Securities and Exchange Commission.
The Nuveen Short Duration Credit Opportunities Fund will invest at least 70 percent of its assets in adjustable-rate senior loans and second-lien debt. The fund may also purchase high-yield debentures and collateralized loan obligations, according to the filing.
CLOs are a type of collateralized debt obligation that pool high-yield, high-risk loans and slice them into securities of varying risk and return.
Nuveen Fund Advisors Inc. will determine and implement the investment strategy, while Symphony Asset Management LLC will be responsible for investing the fund’s assets, according to the filing.
Kathleen Cardoza, a Nuveen spokeswoman, declined to comment.
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