New York-based Investment manager Neuberger Berman has formed a European arm with the successful acquisition of Lehman Brothers Asset Management from the entities in administration.
The deal forms part of an employee-led buyout of the 70-year-old company, creating one of the world’s largest private, independent money managers with approximately $158bn in assets under management for institutions and individuals.
Dik Van Lomwel, former head of distribution at Lehman Brothers Asset Management, will head up operations in Europe and the Middle East.
Called Neuberger Berman Europe Limited, the business will focus on the provision of its investment capabilities and services to institutional and intermediary investors. These capabilities are applied across a range of asset classes and investment styles including fixed income, equities, hedge funds, commodities and private equity.
Established in 1939, Neuberger Berman is one of the world’s largest private, independent asset management companies. It employs 1,600, including more than 250 investment professionals.
