We present new H (1.51.8 mu m) photometric and K-1 (1.92.2 mu m) spectroscopic observations of the young exoplanet HD 95086 b obtained with the Gemini Planet Imager. The Hband magnitude has been significantly improved relative to previous measurements, whereas the lowresolution K-1 (lambda/delta lambda approximate to 66) spectrum is featureless within the measurement uncertainties and presents a monotonically increasing pseudocontinuum consistent with a cloudy atmosphere. By combining these new measurements with literature L' photometry, we compare the spectral energy distribution (SED) of the planet to other young planetarymass companions, field brown dwarfs, and to the predictions of grids of model atmospheres. HD 95086 b is over a magnitude redder in K-1 - L' color than 2MASS J120733463932539 b and HR 8799 c and d, despite having a similar L' magnitude. Considering only the near-infrared measurements, HD 95086 b is most analogous to the brown dwarfs 2MASS J2244316+204343 and 2MASS J21481633+4003594, both of which are thought to have dusty atmospheres. Morphologically, the SED of HD 95086 b is best fit by low temperature (T-eff = 8001300 K), low surface gravity spectra from models which simulate high photospheric dust content. This range of effective temperatures is consistent with field L/T transition objects, but the spectral type of HD 95086 b is poorly constrained between early L and late T due to its unusual position the colormagnitude diagram, demonstrating the difficulty in spectral typing young, low surface gravity substellar objects. As one of the reddest such objects, HD 95086 b represents an important empirical benchmark against which our current understanding of the atmospheric properties of young extrasolar planets can be tested.