The transaction will see an additional $2bn in client assets added to Neuberger Berman’s own $271bn.
Target company BHC offers solutions across the risk premia spectrum and multi-factor strategies, spanning equities, currencies, commodities and rates, managing capital for institutions, ultra-high net worth individuals and retail investors.
The firm was founded by Ray Carroll, Simon Griffiths, and Frank Maeba, who have worked together for over 19 years and are currently supported by a team of 11 investment professionals.
The entire team is expected to join Neuberger Berman sometime in the fourth quarter of 2017. Carroll will continue to spearhead BHC’s investment process.
Commenting on the deal, George Walker, CEO of Neuberger Berman, said: “I’m excited about the Breton Hill team joining us. They are terrific investors who have consistently delivered for their clients. Their disciplined, quantitative investment approach is distinctive–few have the research and investment platform, technology, and creativity to navigate markets as they do. We are proud to partner with them in the years ahead.”
Doug Kramer, Neuberger Berman co-head of quantitative and multi-asset class investments, added: “As the investment landscape evolves, we are eager to utilise BHC’s capabilities to bring Neuberger Berman’s fundamental research and quantitative solutions more closely together to deliver innovative investment solutions to our clients.”
