Neuberger Berman Private Markets

Neuberger Berman was co-founded in 1939 by Roy Neuberger and Robert Berman. In 2003, the firm was acquired by Lehman Brothers and served as part of its Investment Management Division until Lehman's bankruptcy in 2008. Following the collapse of its parent company, Neuberger Berman's management successfully executed a buyout, prevailing over private equity firms Bain Capital and Hellman & Friedman to regain independence as an employee-owned entity.

Since reemerging as an independent firm in 2009, Neuberger Berman has experienced sustained growth, significantly increasing its assets under management and expanding its global footprint. The firm completed its return to 100% employee ownership by the end of 2014. It has evolved from a traditional equity-focused shop into a diversified manager with significant capabilities in private equity, fixed income, emerging markets debt, and liquid alternatives.

The firm is notable for its corporate culture and high talent retention, frequently appearing on Best Places to Work lists. In recent years, Neuberger has expanded through strategic acquisitions, such as Breton Hill Capital in 2017, and has led large-scale private equity transactions, including the $14.5 billion acquisition of Nord Anglia Education in 2024.