Simpson Thacher represented the underwriters, led by Wells Fargo Securities LLC, Citigroup Global Markets Inc., Morgan Stanley & Co, LLC and Ameriprise Financial Services, Inc. in connection with the initial public offering of Neuberger Berman MLP Income Fund Inc. (the “Fund”). The offering raised approximately $1.1 billion, assuming full exercise of the underwriters’ option to purchase additional shares.
The Fund is a newly organized, non-diversified closed-end management investment company which trades on the NYSE MKT under the symbol “NML”. The Fund’s investment objective is to seek total return with an emphasis on cash distributions. The Fund seeks to achieve its investment objective by investing at least 80% of its net assets in master limited partnerships or limited liability companies that have economic characteristics substantially similar to master limited partnerships. Neuberger Berman Management LLC is the Fund’s investment manager.
The Simpson Thacher team for the transaction included: Sarah Cogan, Rafael Vasquez and Jennifer McGroarty (Capital Markets); Jonathan Cantor and Devin Heckman (Tax); Joyce Xu, Jordan Taylor and Bennett Surajat (Derivatives); and Jennie Getsin and Andrew Pagliughi (Blue Sky and FINRA).
