BlockFi and Neuberger Berman Partner to Expand Range of Crypto Asset Management Solutions

JERSEY CITY, N.J., Oct. 25, 2021 (GLOBE NEWSWIRE) -- BlockFi, a crypto financial services company, and Neuberger Berman, a private, independent, employee-owned investment manager, today announced a partnership to develop and distribute a series of crypto asset management products and strategies.  These products and strategies will be housed in a separate entity called BlockFi nb LLC ("BlockFi | nb").

This joint effort reflects Neuberger Berman's and BlockFi's commitment to innovation and delivering creative solutions for clients in evolving markets. As crypto assets continue to grow and develop, clients will seek solutions from firms that have demonstrated investment leadership and a deep understanding of the asset class. BlockFi | nb will seek to deliver on this objective, initially by offering crypto access solutions. BlockFi | nb's crypto access solutions will exist alongside Neuberger Berman's growing suite of actively managed crypto strategies and BlockFi's retail and institutional crypto solutions.

"We are witnessing a significant shift in investor sentiment towards digital assets, and we believe that digital assets should be considered in modern portfolios," said Greg Collett, President of BlockFi | nb. "BlockFi | nb combines the crypto expertise of BlockFi with the institutional rigor of Neuberger Berman.  We think this combination will help us to improve on products currently in the market so that we can give investors cost-effective and convenient access to the performance of digital assets from their brokerage accounts."

"We're excited for this partnership—as we continue to innovate and deepen the options available to investors. Digital assets are increasingly taking their place as mainstream investments and we intend for BlockFi | nb to play a key role in that effort," said Peter Sterling, Managing Director at Neuberger Berman and a BlockFi | nb board member.

BlockFi | nb expects to launch crypto asset management products, including ETFs and other traditional structures, that will give investors cost-effective and convenient access to the performance of crypto assets in their brokerage accounts. 

About BlockFi

BlockFi is a new breed of financial services company. Founded in 2017 by Zac Prince and Flori Marquez, BlockFi is building a bridge between cryptocurrencies and traditional financial and wealth management products to advance the overall digital asset ecosystem for individual and institutional investors. 

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 25 countries, Neuberger Berman's diverse team has over 2,400 professionals. For seven consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. The firm manages $437 billion in client assets as of September 30, 2021. For more information, please visit our website at www.nb.com. 

Nothing contained in this announcement should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. The information provided in this announcement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This announcement is not directed to any person in any jurisdiction where the publication or availability of the announcement is prohibited, by reason of that person's nationality, residence or otherwise.

BlockFi, Neuberger Berman, nor any of its affiliates or representatives provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

Digital currency is not legal tender, is not backed by the government, and crypto interest accounts are not subject to FDIC or SIPC protections. Learn more at BlockFi.com.

BlockFi Lending LLC NMLS ID#1737520 | BlockFi Trading LLC NMLS ID#1873137

BlockFi

Madelyn McHugh
[email protected]

Neuberger Berman

Alexander Samuelson
[email protected]

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