Neuberger Berman

Office address: 1290 Avenue of the Americas, New York, NY 10104
Website: nb.com
Year established: 1939
Company type: financial services
Employees: 2,900+
Expertise: equities, fixed income, private equity, private credit, hedge funds, real estate, multi-asset strategies, specialty alternatives, infrastructure, capital solutions, insurance-linked strategies, wealth management
Parent company: N/A
Key people: George Walker (CEO); Anne Brennan (CFO); Joseph Amato (president); Ashok Bhatia, Erik Knutzen, and Jeff Blazek (chief investment officers); Andrew Komaroff (COO)
Financing status: employee-owned company

Neuberger Berman (NB) is a private, independent, and employee-owned investment manager based in New York City. The firm oversees equities, fixed income, and private funds for institutions and individuals globally. It employs about 2,900 people across 39 cities worldwide and manages $558 billion in client assets as of 2025.

History of Neuberger Berman

Neuberger Berman was established in 1939 by Roy Neuberger and Robert Berman, with the aim of delivering long-term results. They launched one of the first no-load mutual funds in 1950 to help individual investors.

The team added fixed income and private equity capabilities to its platform in 1981. New teams for real estate and trust services joined as the company expanded its reach.

A shift in ownership

Lehman Brothers acquired the firm in 2003 and made it part of its investment division. The parent company collapsed in 2008 due to the global financial crisis.

Employees bought the firm back in 2009 to regain their independence and control. This management buyout turned the company into a private and employee-owned investment manager.

Neuberger Berman’s development

The newly independent firm launched liquid alternative funds and minority ownership stakes in 2011. Teams for private credit and emerging markets debt joined the platform in 2013.

The company acquired Almanac Realty Investors in 2020 to strengthen its real estate offerings. These moves helped the firm manage assets for clients across global markets today.

Strategic growth

Building on its legacy of strategic partnerships, the company provided a fresh shot of capital to Mariner Wealth Advisors in 2024. Neuberger Berman’s minority investment accelerates Mariner’s expansion plans while keeping the latter majority-owned by its CEO.

NB’s wealth management teams also performed well in 2025 as four of them were recognized by InvestmentNews. These groups earned spots on the list of 5-Star Wealth Management Teams for their service to clients. This award highlights the ability of the firm to adapt during a time of market volatility.

Neuberger Berman products and services

NB uses deep research and data science to deliver diverse investment solutions. Some of these offerings include:

Investment capabilities

• equities: alpha generation through global research and stewardship
• fixed income: integrated global platform for public and private markets
• private credit: capital solutions for debt and specialty finance
• alternatives: insights driven by private market ecosystem relationships
• real assets: public and private investments in property and infrastructure
• multi-asset strategies: customized solutions across public and private markets

Investment vehicles

• mutual funds: actively managed portfolios with daily liquidity
• active ETFs: efficient portfolios with intraday liquidity
• private markets funds: institutional-quality investments with lower eligibility requirements
• interval funds: permanent capital vehicles with periodic repurchase offers

Investment solutions

• retirement: planning and income solutions for long-term goals
• alternative investing: diversification through private equity and hedge funds
• Custom Direct Investing (CDI): tax-efficient portfolios customized for individual needs
• stewardship: active ownership to drive long-term value

The firm’s NB Private Wealth also provides dedicated services for high-net-worth families. The division offers retirement planning and access to alternative investments.

Culture and corporate values

Neuberger Berman states its culture relies on fundamental research and idea exchange. The firm also says its employee-owned structure aligns with client interests. To supplement this, NB lists these commitments:

• diversity and inclusion: broad perspectives lead to stronger decisions and improved client outcomes
• community service: employees use their expertise and resources to support nonprofit organizations
• career development: the firm rewards achievements in a meritocracy that supports individual growth

Internal networks and partnerships at Neuberger Berman seek to foster a connected environment where diverse perspectives thrive. The company states that this inclusive culture strengthens the team’s ability to deliver superior results for clients.

About CEO George Walker and key people

George H. Walker has led Neuberger Berman as chair and CEO for almost two decades. Before NB, he spent 14 years at Goldman Sachs, where he became a partner. Walker graduated from the University of Pennsylvania with a BA, BS, and MBA.

Neuberger Berman’s executive team includes seasoned leaders from across the financial industry:

• Joseph Amato serves as president and equities CIO, managing investment strategies and risk
• Anne Brennan works as CFO, overseeing financial operations and risk management
• Ashok Bhatia is the fixed income CIO, leading global bond and credit platforms
• Erik Knutzen serves as co-CIO for multi-asset strategies, driving asset allocation decisions
• Jeff Blazek works as co-CIO for multi-asset strategies, partnering on portfolio management
• Andrew Komaroff is the COO, directing global business operations and infrastructure

These leaders guide the firm without pressure from external shareholders or parent companies. NB’s employee-owned structure empowers the team to focus solely on long-term client results.

The future at Neuberger Berman

In 2025, Neuberger Berman introduced a long-short strategy to its CDI platform to assist investors with tax planning. The new offering serves endowments and high-net-worth clients who need to manage liabilities while pursuing growth. This expansion of the $6.6 billion platform prepares the firm to support portfolios as tax regulations continue to change.

In other market developments, the global hunt for yield has brought risky sovereign borrowers back to debt markets. NB’s emerging-market debt co-head Gorky Urquieta believes Argentina is positioned to issue new bonds soon. He notes that a successful sale would lower country risk and signal a return to normal market access. This focus on global economic shifts reflects Neuberger Berman’s strategy to navigate industry changes and secure its future in a complex market environment.

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