Neuberger Berman

Neuberger Berman is a New York City-based financial services company cofounded in 1939. The firm has offices in thirty-nine cities across twenty-six countries, managing a range of equity, fixed income, private equity, and hedge fund strategies on behalf of institutions, advisors, and individual investors worldwide. The firm has over 700 investment professionals and nearly 3,000 employees in total.

Starting in 2014, the firm has earned "Best Places to Work in Money Management" from Pensions & Investments each year. Currently, the firm's CEO is George Herbert Walker.

The firm was cofounded in 1939 by Roy Neuberger, an art collector who made a name for himself shorting Radio Corp. of America in 1929. The other founders and partners were Robert Berman and Howard Lipman. In 1999, the firm went public.

In 2003, Lehman Brothers Holdings acquired the firm for $2.6 billion. In 2006, when Walker joined Lehman, the firm was in the midst of a financial crisis. Walker was hired to run Lehman's Neuberger Berman, and in 2008, the company was going bankrupt. In September of the same year, Walker, Joseph Amato (Chief Investment Officer), Andrew Komaroff (Chief Operating Officer), and Heather Zuckermna (Chief Administrative Officer) negotiated an agreement for two private equity firms, Bain Capital and Hellman & Friedman, to buy Neuberger Berman and other investments for $2.15 billion.

Today, Neuberger Berman has $242 billion in assets, with products including traditional long-only fixed income and equities and alternatives for institutional and retail investors. The firm has signed clients such as the $26.9 billion Texas Permanent School Fund, which awarded Neuberger a $900 million private equity mandate that includes co-investments and secondaries.