Neuberger Berman Group LLC is a private, independent, employee-owned investment management firm headquartered in New York City. Founded in 1939 by Roy Neuberger and Robert Berman, the firm has established itself as a significant player in the global financial services industry.
Company Overview
- Headquarters: 1290 Avenue of the Americas, New York City, New York, 10104, United States.
- CEO: George H. Walker.
- Employees: Approximately 2,800 as of 2023.
- Assets Under Management (AUM): $474 billion as of March 31, 2024.
Services and Products
Neuberger Berman offers a diverse range of investment solutions, including:
- Equities: Active and passive strategies across various market capitalizations and geographies.
- Fixed Income: Investment-grade and high-yield bonds, emerging market debt, and municipal bonds.
- Private Equity: Direct investments, co-investments, and fund-of-funds strategies.
- Hedge Funds: Multi-strategy, long/short equity, and event-driven approaches.
- Alternative Investments: Real estate, commodities, and infrastructure investments.
Historical Milestones
- 1939: Founded by Roy Neuberger and Robert Berman.
- 2003: Acquired by Lehman Brothers for approximately $2.6 billion.
- 2008: Following Lehman Brothers' bankruptcy, Neuberger Berman's management executed a buyout, re-establishing the firm as an independent entity.
- 2014: Achieved full employee ownership, enhancing alignment with client interests.
Financial Performance
As of March 31, 2024, Neuberger Berman managed $474 billion in client assets. The firm's revenue for 2020 was reported at $2.0 billion.
Global Presence
The firm operates in 39 cities across 30 countries, serving a diverse client base that includes institutions, advisors, and individual investors.
Corporate Culture and Recognition
Neuberger Berman is renowned for its employee-centric culture. It has been consistently ranked first or second in Pensions & Investments' "Best Places to Work in Money Management" survey for firms with over 1,000 employees since 2014.
Environmental, Social, and Governance (ESG) Commitment
The firm integrates ESG factors into its investment processes, reflecting a commitment to responsible investing. In 2019, Neuberger Berman was recognized by the United Nations Principles for Responsible Investment (UNPRI) for excellence in ESG investing.
Recent Developments
- 2024: Led a private equity consortium, including EQT AB and Canada Pension Plan Investment Board, to acquire Nord Anglia Education for $14.5 billion.
Competitive Landscape
Neuberger Berman competes with other prominent asset management firms, including:
- Lazard Asset Management: Approximately 1,200 employees.
- Global X ETFs: Approximately 210 employees.
- Candriam: Approximately 790 employees.
- Western Asset Management: Approximately 880 employees.
- BTG Pactual: Approximately 8,200 employees.
