Last checked at 
18 Mar 2021 07:00
18 March 2021
NB Distressed Debt Investment Fund Limited
(the "Company")
Waiver of Investment Manager's Fee
The Board of NB Distressed Debt is pleased to announce that the Company's investment manager, Neuberger Berman Europe Limited ("NBEL"), has offered to waive its entitlement to receive fees from the Company with immediate effect.
Consequently, the Ordinary, Extended Life and New Global share classes will cease to bear all NBEL fees with immediate effect.
John Hallam, NB Distressed Debt's Chairman, commented:
"We appreciate this gesture, which has been offered by the investment manager. The fee waiver recognises that it is taking longer than expected to fully realise the Company's assets due to a number of factors, including the Covid-19 pandemic, and as we outlined in our most recent quarterly update. A partial fee waiver on the smallest share class, NBDD, was already in place, but this has been replaced with a full fee waiver on all three share classes to reduce costs for shareholders in our Extended Life and Global share classes."
The Company will continue to update shareholders on progress of the remaining assets towards the final distribution date.
LEI: YRFO7WKOU3V511VFX790
For further information, please contact:
KL Communications Charles Gorman
| +44 (0) 20 3995 6673 nbdd@kl-communications.com |