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      Who We Are

      An overview of our firm's history, capabilities, and culture. Watch now

      Our Firm

      Neuberger Berman was founded in 1939 to do one thing: deliver compelling investment results for our clients over the long term. This remains our singular purpose today, driven by a culture rooted in deep fundamental research, the pursuit of investment insight and continuous innovation on behalf of clients, and facilitated by the free exchange of ideas across the organization.

      As a private, independent, employee-owned investment manager, Neuberger Berman is structurally aligned with the long-term interests of our clients. We have no external parent or public shareholders to serve, nor other lines of business to distract us from our core mission. And with our employees and their families invested alongside our clients—plus 100% of employee deferred cash compensation directly linked to team and firm strategies—we are truly in this together.

      From offices in 29 cities worldwide, Neuberger Berman manages a range of equity, fixed income, private equity and hedge fund strategies on behalf of institutions, advisors and individual investors worldwide. With more than 500 investment professionals and over 1,900 employees in total, Neuberger Berman has built a diverse team of individuals united in their commitment to client outcomes and investment excellence. Our culture has afforded us enviable retention rates among our senior investment staff and has earned us a citation as the top-ranked firm (among those with 1,000 or more employees) in the Pensions & Investments 2016 “Best Places to Work in Money Management” survey, after we had finished in the top three from 2013–15.

      George H. Walker

      Chairman & CEO

      Neuberger Berman Ranked #1 among managers with 1,000 or more employees in Pensions & Investments “Best Places to Work in Money Management” survey. 1

      Our greatest assets are our people, our culture and our reputation. Making Neuberger Berman a best-in-class place to work is fundamental to our ability to deliver for clients.

      Learn More

      Client Alignment

      Investing for you and with you

      Neuberger Berman is a private, independent, employee-owned investment manager—a rare structure for a large asset management firm, almost all of which are either public or owned by other financial institutions.

      We believe that our 100% independent, employee ownership and singular business focus best aligns us—both as an organization and as individuals—with the long-term interests of our clients. With no external parent or public shareholders to serve, we are empowered to run our business with a lasting, client-centric perspective. With no proprietary trading or market-making operations, we are able to concentrate our efforts solely on our core activity of investment management. And with our employees and their families having significant personal capital invested alongside that of our clients—plus 100% of employee deferred cash compensation directly linked to team and firm strategies—we are truly in this together.

      Ownership Structure

      100%

      Independent, employee owned2

      Alignment with clients

      100%

      Deferred cash compensation directly linked to team and firm strategies

      Culture of Partnership and Innovation

      An evolution inspired by clients

      As a private, independent, employee-owned investment manager Neuberger Berman has the freedom to focus exclusively on investing for our clients for the long term. As such, we are deeply attuned to each client’s unique combination of investment goals, risk tolerance, and income and liquidity requirements, and we can act in partnership to address them as they change over time.

      Inherent in this culture of partnership is a commitment to innovation, a firm-wide drive to uncover new solutions as markets and client needs evolve. Not merely innovation for its own sake, but rather the development of transformative concepts rooted in practical client applications. Since 1939 we have been on the forefront of a number of industry trends now considered commonplace—from the launch of one of the first no-load funds to the early adoption of socially responsive investment techniques.

      Our commitment extends beyond our lineup of investment products. We look to collaborate with clients to overcome a variety of challenges, be it a corporate pension plan trying to better match assets and liabilities or an investment advisor interested in evolving their practice. We are proud to be a thought partner to our clients, offering access to our investment professionals, both in person and through our thought leadership publications, training and joint research projects.

      Our History

      1939

      to

      2002

      1939
      Neuberger Berman founded
      1940s
      First application of ESG screens
      1950
      One of the first no-load ’40 Act mutual funds launched
      1977
      Institutional business launched
      1981
      Fixed Income capability launched3
      Private Equity platform established
      1989
      Socially Responsive Investing team established
      1994
      Trust Company established4
      2002
      Real Estate Securities team joined firm

      2003

      to

      2008

      2003
      Neuberger Berman acquired by Lehman Brothers
      2004
      Hedge Fund platform established
      2005
      Quantitative investment business established
      2006
      UCITS Funds platform created
      2007
      CLO/Bank Loan capabilities launched
      2008
      Multi-Asset Class platform established

      2009

      to

      TODAY

      2009
      Neuberger Berman Group LLC became a private, independent, employee-controlled investment management firm
      2011
      One of the first firms to offer clients minority ownership stakes in hedge funds and private equity firms
      Liquid alternatives funds launched in UCITS and ‘40 Act vehicles
      2013
      Private Credit investment team joined firm
      Emerging Markets Debt team joined firm
      2014
      London-based Multi-Asset Class team joined firm
      2015
      Orchard Square Partners (global long/short credit) joined firm
      2016
      Options team joined firm
      Event-Driven team joined firm

      Experience and Stability

      Yesterday, today and tomorrow

      Neuberger Berman by design attracts individuals who share a passion for investing and who thrive in an environment of rigorous analysis, challenging dialogue, and professional and personal respect. In a testament to the strength of the culture we have built—honed by more than 75 years of markets and countless “once-in-a-lifetime” events—these professionals have tended to stay with the firm, stability that over time drives results and consistency of process.

      Our portfolio managers have worked in asset management for more than 25 years on average, most of it at Neuberger Berman. And while our clients benefit from the wisdom of our seasoned professionals, we are always looking to supplement their ranks with emerging talent; by enabling the transfer of knowledge, providing growth opportunities for skilled investors and building thoughtful succession plans, we seek to ensure a consistent client experience over the long term.

      Portfolio Manager Experience

      95%

      of client assets managed by lead portfolio managers who have 20+ years of industry experience

      25+

      years average industry experience

      14

      years average working together at Neuberger Berman

      Retention Levels for Senior Investment Professionals

      Managing Directors
      (includes retirements)
      Managing Directors
      (competitor departures only)
      2016 91% 99%
      2015 99% 100%
      2014 98% 99%
      2013 98% 100%
      2012 96% 99%

      Our Founder—Roy Neuberger

      The Art of Investment

      When Roy Neuberger started collecting art in 1939, he bought pieces that spoke to him. “I buy because I love the work,” he said. The fact that many of his favorite artists—like Jackson Pollock, Edward Hopper and especially Milton Avery—went on to become household names is a testament to his unique insight. In art, as in investment, Roy didn’t follow the market—the market followed him.

      At the firm he founded in that same year of 1939, we try to live up to those principles. We value experience but have an eye for innovation. Our culture is strong; our teams are independent. Company fundamentals and client objectives are what drive us, not the noise of the markets. That is the art of investing, the art of partnership, the art of service.

      Roy R. Neuberger


      Breadth of Perspective

      Diversity of viewpoints, unity of intent

      Our portfolio management professionals are critical, independent thinkers who benefit from being part of a global, diverse investment organization composed of more than 500 investment professionals with different perspectives on markets, economies and strategies. Clients benefit from the firm’s intellectual capital across investment disciplines—equity and credit, public and private, long and short, large and small—as our breadth of perspective bolsters individual conviction and often results in portfolios with high active shares and the potential for alpha generation.

      We continue to value the free exchange of ideas in pursuit of insight that might otherwise go undiscovered. We host multiple forums in which our investment professionals can share research, test theories and expose to scrutiny their investment ideas. These include both formal assemblies—such as our various asset class investment committees and the cross-class Asset Allocation Committee, along with our various research teams—as well as informal connections initiated by like-minded professionals with a shared dedication to the pursuit of investment insight on behalf of clients.


      Investment Platform

      Broad scope, singular focus

      We are passionate, independent investors united by our commitment to research-driven investment solutions and client service. With more than 500 investment professionals based in 11 global portfolio management centers, we offer clients around the world investment solutions across asset classes, capitalizations, styles and geographies in both public and private markets, as well as multi-asset class solutions that bring them all together. To serve this broad base of institutions, advisors and individuals, our strategies are available through a variety of investment vehicles.

      Ultimately we are judged on our ability to deliver risk-adjusted returns to clients over time, and we stand by our record as a testament to the prowess of our investment professionals and the strength of our firm culture.

      AUM of $267 billion5

      By Client Segment

      By Region

      Investment Platform

      Fundamental

      AUM $267bn5

      Investment Professionals

      Equity

      AUM $267bn5

      • $100bn

      Investment Professionals

      • 229

      Fundamental

      • Global / EAFE
      • U.S. Value / Core / Growth
      • Emerging Markets
      • Regional EM, China
      • Socially Responsive Investing
      • Income Strategies
        • MLPs
        • REITs

      Quantitative

      • Global
      • U.S.
      • Emerging Markets
      • Custom Beta
      Fixed Income

      AUM $267BN5

      • $119bn

      Investment Professionals

      • 146

      Fundamental

      • Global Investment Grade
      • Global Non-Inv. Grade
      • Emerging Markets
      • Opportunistic / Unconstrained
      • Municipals
      • Specialty Strategies
        • CLO Mezzanine
        • Special Situations
        • Currency
        • Corporate Hybrids
        Alternatives

        AUM $267BN5

        • $58bn AUM and Committed Capital

        Investment Professionals

        • 117

        Fundamental

        • Private Equity
          • Primaries
          • Co-investments
          • Secondaries
          • Minority interest in leading alternative investment firms / DYAL
        • Alternative Credit
        • Hedge Funds
          • Multi-Manager Equity & Credit L/S
          • Event Driven

        Quantitative

        • Risk Premia
        • Options
        • Global Macro
        • Commodities

        Quantitative

        Multi-Asset Class Solutions And Strategic Partnerships

        Fundamental

        • Global Relative & Absolute Return
        • Income Focused
        • Inflation Management
        • Liability Aware

        Quantitative

        • Risk Parity
        • Global Tactical Asset Allocation

        Risk Management

        A centralized resource, a firm-wide responsibility

        Risk management has been central to Neuberger Berman’s investment culture since our founding in 1939. As an employee-owned manager, everyone at Neuberger Berman is invested in identifying and managing risk—risk to our clients, risk to our portfolios, risk to our reputation.

        We believe that fostering an environment of strong internal control is vital. To this end, we have established a rigorous risk management framework that features dedicated investment and operational risk teams who work to protect client assets and our reputation. Our risk professionals act as an independent complement to each investment team’s portfolio construction process, driving investment and operational risk reviews in collaboration with other control units of the firm, such as information technology, operations, legal and compliance, asset management guideline oversight and internal audit. With our Chief Risk Officer reporting directly to Neuberger Berman’s Chief Executive Officer, our risk management structure is enhanced by an ability to escalate issues as necessary to firm leadership as well as our fund boards and firm board of directors.


        ESG Investing

        A purpose-driven investment approach

        As a global investment manager, Neuberger Berman has a responsibility to consider how the choices we make as investors and as individuals impact the world—and an opportunity to ensure that our impact is a positive one.

        Over the years, a set of evaluation criteria known as environmental, social and governance (ESG) factors have emerged as a means to assess a company’s sustainability alongside other more traditional contributors to the bottom line. Beyond the positive effect an ESG approach can have on long-term investment performance, we believe that aligning financial objectives with responsible values is consistent with our client-centric heritage. Neuberger Berman long has been on the forefront of incorporating such concerns into the investment process, going back to our first application of “avoidance screens” in the 1940s to the launch of our socially responsive investment team in 1989. Today, all of our investment teams access ESG research and can apply an ESG lens to their processes. As of December 31, 2016, more than 30% of our assets under management have explicit ESG criteria.

        To drive continued improvement in the ESG space, in 2012 we became signatories to the UN-sponsored Principles for Responsible Investment (PRI) and also established an in-house ESG Committee. Led by Joe Amato, President of Neuberger Berman and CIO of Equities, the committee is responsible for setting goals, measuring performance and furthering our ESG expertise. We take engagement across economic and ESG matters seriously, be it meetings with management, engagement with boards of directors or as part of the proxy-voting process with the companies whose securities we own.

        Top

        1 Pensions & Investments, December 12 2016.

        2Includes the firm's current and former employees, directors and, in certain instances, their permitted transferees.

        3 In 1981, the Fixed Income business was established at Lincoln Capital and subsequently acquired by Lehman Brothers. The Crossroads Group, a predecessor entity to the private investment portfolios business, was founded in 1981.

        4 Neuberger Berman Trust Company is a trade name used by Neuberger Berman Trust Company N.A. (NBTCNA) and Neuberger Berman Trust Company of Delaware N.A. (NBTCDE), which are subsidiaries of Neuberger Berman Group LLC. Predecessors in interest of NBTCNA and NBTCDE were established in 1994 and 1996, respectively.

        5Includes $99.5 billion in equity assets, $118.7 billion fixed income assets and $48.8 billion in alternatives assets under management. Alternatives AUM includes AUM & Committed Capital since inception, which reflects contractual commitments to fund investments advised by NB Alternatives Advisers LLC, including those still in documentation, since inception (the oldest mandate of which was founded in 1981) (“Committed Capital”).

        All information is as of March 31, 2017, unless otherwise indicated.

        This material is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. Information is obtained from sources deemed reliable, but there is no representation or warranty as to its accuracy, completeness or reliability. All information is current as of the date of this material and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Neuberger Berman products and services may not be available in all jurisdictions or to all client types. Investing entails risks, including possible loss of principal. Investments in hedge funds and private equity are speculative and involve a higher degree of risk than more traditional investments. Investments in hedge funds and private equity are intended for sophisticated investors only. Indexes are unmanaged and are not available for direct investment. Past performance is no guarantee of future results.

        Firm data, including employee and assets under management figures, reflect collective data for the various affiliated investment advisers that are subsidiaries of Neuberger Berman Group LLC (the “firm”). Firm history and timelines includes the history and business expansions of all firm subsidiaries, including predecessor entities and acquisition entities. Investment professionals referenced include portfolio managers, research analysts/associates, traders, and product specialists and team dedicated economists/strategists.

        This material is being issued on a limited basis through various global subsidiaries and affiliates of Neuberger Berman Group LLC. Please visit www.nb.com/disclosure-global-communications for the specific entities and jurisdictional limitations and restrictions.

        The “Neuberger Berman” name and logo are registered service marks of Neuberger Berman Group LLC.

        ©2017 Neuberger Berman Group LLC. All rights reserved.