US based investment house Neuberger Berman has launched long short equity focused fund.

US-based investment house Neuberger Berman has launched a new long/short equity-focused fund.

The Neuberger Berman Long Short Multi-Manager Fund will allocate its assets to external hedge fund advisors that employ distinct long/short strategies, investing primarily in equities globally.

The fund is managed by managing directors David Kupperman, Fred Ingham, Jeff Majit and Eric Weinstein, and senior vice president, Ian Haas. The group currently oversees over $4 billion in hedge fund solutions including $1.9 billion within the Neuberger Berman Absolute Return Multi-Manager strategy.

"The current backdrop of high dispersion in equities has created a fertile stock picking environment and we believe this is a timely point in the market to launch the Neuberger Berman Long Short Multi-Manager Fund," said Fred Ingham, head of international hedge fund investments at Neuberger Berman Alternative Management.

Neuberger Berman is a 75-year-old employee-controlled investment manager.