Patrick Flynn, a managing director, senior portfolio manager and global co-head of non-investment grade credit at Neuberger Berman, died unexpectedly Tuesday, the company announced Friday.
Mr. Flynn, 49, had been at the company 13 years, was co-portfolio manager on Neuberger Berman's high-yield strategies fund as well as its high-income and short-duration bond funds, a spokesman confirmed.
"Neuberger Berman and the (high yield strategies fund) directors mourn his untimely passing and along with our colleagues and clients extend our deepest condolences to his loved ones," a news release issued Friday said.
"Current co-portfolio managers Thomas P. O'Reilly, Russ Covode, Daniel Doyle and Joseph Lind, with an average of 29 years of industry experience, continue to manage the fund. Chris Kocinski, managing director, and Steve Ruh, senior vice president, co-directors of non-investment grade credit research, who lead a team of 26 research analysts with an average of 12 years of industry experience, support them," the release said.
Mr. Flynn was co-head of non-investment grade credit alongside managing director Thomas O'Reilly, who will retire at the end of this year.
"The team-based approach to portfolio management positions the non-investment grade team to deliver the same continuity of investment process and risk management that has distinguished it for the past two decades," the release said.
On Friday, a spokesman for Neuberger Berman declined to comment further.
Mr. Flynn is survived by his wife and three children. A memorial service is scheduled for Saturday afternoon in Wilmette, Ill.