Prudential Financial is planning to start a mutual fund focused on buying leveraged loans, Bloomberg reports. The Prudential Floating Rate Income Fund may provide up to 80% of its assets in loans and other floating-rate debt and plans to start investing in March.

The vehicle, which is managed by Paul Appleby, Joe Lemanowicz and Brian Juliano, may invest in senior loans that are unrated senior loans of comparable quality. Newark-based Prudential may use up to 20% of the fund’s assets for buying unsecured loans.

Click here for the story from Bloomberg.