Neuberger Berman

NEUBERGER BERMAN AND KEY WEALTH ANNOUNCE A PROPRIETARY CUSTOMIZED DIRECT INVESTMENT OFFERING FOR KEY PRIVATE BANK CLIENTS

Retrieved on: 
Monday, March 18, 2024
Neuberger Berman, Tax, HNW, KeyBank, SMA, UHNW, Key, NB, ETF, Financial services

CLEVELAND and NEW YORK, March 18, 2024 /PRNewswire/ -- Neuberger Berman, an employee-owned, private, independent investment manager, and Key Wealth, the wealth management business of KeyCorp (NYSE:KEY), announced the introduction of Neuberger Berman's Custom Direct Investing (NB CDI™) solution to tax optimize Key Wealth equity strategies for long-term wealth growth for Key Wealth's high net worth (HNW) and ultra-high net worth (UNHW) clients.

Key Points: 
  • The NB CDI™ platform will provide custom implementation of Key Wealth's proprietary equity strategies including Key Core Equity, Key Sustainable Equity Advantage and Key High Dividend.
  • The customization offered by NB CDI™ aims to enhance Key's existing strategies by seeking to provide clients consistent tax alpha with precise tax loss harvesting.
  • This approach is designed to not only seek to increase after-tax investment returns but also to elevate the overall client experience.
  • "We're excited to introduce Neuberger Berman's Custom Direct Investing platform as part of our proprietary equity strategies for our HNW and UHNW clients," said Jonathan Theberge, Director of Wealth Services for Key Wealth.

Vista Equity Partners Appoints Dan Parant as Global Head of Private Wealth Solutions to Expand Access to Private Market Technology Investments

Retrieved on: 
Thursday, February 15, 2024
Professional Services, Data Management, Technology, Software, Finance, Asset Management, Fintech, Senior, Lehman Brothers, KKR, Vista, Neuberger Berman, Vista Equity Partners, RIAS, Capital

Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, today announced the appointment of Dan Parant as Managing Director and Global Head of Private Wealth Solutions.

Key Points: 
  • Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, today announced the appointment of Dan Parant as Managing Director and Global Head of Private Wealth Solutions.
  • In this new position, Parant will report to Vista’s Global Head of Capital and Partner Solutions, Greg Myers, and will accelerate Vista’s efforts to expand access to investing in private technology companies for financial advisors and their clients globally.
  • “There’s an outsized opportunity for today’s private wealth investor to tap into investment strategies in one of the largest and fastest growing sectors of an increasingly digital global economy – technology and enterprise software,” said Greg Myers, Senior Managing Director and Global Head of Capital and Partner Solutions, Vista Equity Partners.
  • Dan’s experience and expertise will be crucial to our continued efforts to provide institutional quality solutions to the private wealth channel.”
    Parant joins Vista from KKR, where as Co-Head of Americas Private Wealth, he established the firm’s private wealth business over the last 12 years.

RCP Advisors Announces Promotions

Retrieved on: 
Tuesday, January 30, 2024
Administration, RCP Advisors, P10, Neuberger Berman, Communication, Research, PX, RCP

CHICAGO, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Following a successful year in 2023, RCP Advisors (“RCP”) is pleased to announce the promotion of Patrick dePenaloza to Principal, alongside several additional promotions across the firm.

Key Points: 
  • CHICAGO, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Following a successful year in 2023, RCP Advisors (“RCP”) is pleased to announce the promotion of Patrick dePenaloza to Principal, alongside several additional promotions across the firm.
  • Patrick joined RCP’s business development team in 2016 following his earlier relevant experience at Neuberger Berman.
  • “We are thrilled to announce these well-deserved promotions.
  • Each of these team members has demonstrated exceptional commitment and talent, and their contributions have been instrumental in RCP’s success,” said Jon Madorsky, Managing Partner at RCP Advisors.

CIP Real Estate Receives Another $300 Million Capital Investment from Almanac Realty Investors

Retrieved on: 
Monday, January 29, 2024
Neuberger Berman, Partnership, Inland Empire, Real estate, Acquisition, Almanac, CIP

IRVINE, Calif., Jan. 29, 2024 (GLOBE NEWSWIRE) -- CIP Real Estate is pleased to announce a second $300 million capital allocation from its institutional investment partner, Almanac Realty Investors, a business unit of Neuberger Berman.

Key Points: 
  • IRVINE, Calif., Jan. 29, 2024 (GLOBE NEWSWIRE) -- CIP Real Estate is pleased to announce a second $300 million capital allocation from its institutional investment partner, Almanac Realty Investors, a business unit of Neuberger Berman.
  • Including an investment of $380 million made in 2019 by a prior fund, funds managed by Almanac have committed to invest up to $680 million of capital in the aggregate into the CIP platform as an institutional investment partner.
  • Since the formation of the Almanac partnership in October 2019, CIP Real Estate has aggregated a portfolio of industrial assets totaling over $1.15 billion in major markets including Atlanta, Charlotte, Tampa, Dallas, the Inland Empire, and the East Bay.
  • That includes approximately 500,000 square feet of new construction in Atlanta and Charlotte , North Carolina , exceeding $88 million in value.

Macquarie Asset Management hires Vivek Bommi as Head of Leveraged Credit

Retrieved on: 
Thursday, November 30, 2023
Personal Finance, Finance, Professional Services, Other Professional Services, Asset Management, AllianceBernstein, Risk, Neuberger Berman, Private credit, Macquarie Group, Multimedia, Head, Financial services, Credit, Research

Macquarie Asset Management today announced the appointment of Vivek Bommi as Head of Leveraged Credit, one of the three capability offerings of the firm’s Credit platform, along with Fixed Income and Private Credit.

Key Points: 
  • Macquarie Asset Management today announced the appointment of Vivek Bommi as Head of Leveraged Credit, one of the three capability offerings of the firm’s Credit platform, along with Fixed Income and Private Credit.
  • View the full release here: https://www.businesswire.com/news/home/20231130795791/en/
    Based in Philadelphia, Vivek joins Macquarie Asset Management with 25 years of industry experience, having spent the last 15 years in senior roles across Leveraged Credit.
  • “We see investors continue to look for credit solutions across the liquidity, risk and return spectrums,” said Brett Lewthwaite, Deputy Head of Credit, Macquarie Asset Management.
  • “Vivek’s wealth of experience will be invaluable as we look to grow our existing leveraged credit solutions and add new offerings.”
    “I am excited to join the Macquarie Asset Management Credit team and look forward to growing its strong Leveraged Credit offerings.

Spouting Rock Asset Management Appoints Andrew Provencher as Chief Client Officer

Retrieved on: 
Wednesday, November 15, 2023
Asset Management, Professional Services, Finance, Head, CFA, Ecosystem, BNY Mellon Investment Management, Neuberger Berman, Growth, American Century Investments, Sales

Spouting Rock Asset Management, LLC, (“Spouting Rock”), a multi-boutique manager platform offering investment solutions and services, is pleased to announce the appointment of Andrew (“Andy”) Provencher, CFA, as Chief Client Officer.

Key Points: 
  • Spouting Rock Asset Management, LLC, (“Spouting Rock”), a multi-boutique manager platform offering investment solutions and services, is pleased to announce the appointment of Andrew (“Andy”) Provencher, CFA, as Chief Client Officer.
  • Prior to joining Spouting Rock, Andy held significant roles at BNY Mellon Investment Management as head of North American distribution and at American Century Investments as head of platform sales.
  • At Spouting Rock, Andy will spearhead initiatives to deepen and broaden relationships across parts of the asset management ecosystem, including with institutional investors, intermediaries, financial advisors and retail investors.
  • Over the past three years, Spouting Rock has added several leading managers to its platform, including Penn Capital Management Company, LLC., Glovista Investments, Stewart Asset Management, Alquity Investment Management, SR Alternative Credit (formerly Old Hill Partners) and Altan Asset Management.

NEUBERGER BERMAN RANKS SECOND IN PENSIONS & INVESTMENTS 2023 "BEST PLACES TO WORK IN MONEY MANAGEMENT"

Retrieved on: 
Tuesday, December 12, 2023
Environment, Neuberger Berman, P&I, Research, Pension, Crain Communications, News, The Last Best Place, Philosophy, Management, Investment

NEW YORK, Dec. 12, 2023 /PRNewswire/ -- Neuberger Berman , a private, independent, employee-owned investment manager, is honored to be second among companies with 1,000 employees or more in the 2023 "Best Places to Work in Money Management" survey by Pensions & Investments.

Key Points: 
  • NEW YORK, Dec. 12, 2023 /PRNewswire/ -- Neuberger Berman , a private, independent, employee-owned investment manager, is honored to be second among companies with 1,000 employees or more in the 2023 "Best Places to Work in Money Management" survey by Pensions & Investments.
  • Heather Zuckerman, Chief of Staff at Neuberger Berman, said: "As an employee-owned firm, Neuberger Berman truly is a great place to build a career.
  • "Pensions & Investments is proud to honor the Best Places to Work in Money Management for the 12th year.
  • For a complete list of the 2023 Pensions & Investments' Best Places to Work in Money Management winners and profiles of the top 100 firms across size categories, go to www.pionline.com/BPTW2023

Neuberger Berman, Palos Capital and FinTech Ventures Complete Acquisition of IOU Financial

Retrieved on: 
Friday, September 29, 2023
TSX Venture Exchange, Financial assistance (share purchase), Fintech, IOU, LLLP, Neuberger Berman, Security (finance), Cryptocurrency

MONTREAL, Sept. 29, 2023 /PRNewswire/ - IOU Financial Inc. (TSXV: IOU) ("IOU" or the "Company") today announced the completion of the transaction under which 9494-3677 Québec Inc. (the "Purchaser"), a corporation created by a group composed of (i) funds managed by Neuberger Berman ("Neuberger Berman"), (ii) funds managed by Palos Capital, including Palos IOU Inc. (together with Palos Capital, "Palos"), a newly-formed company consisting of certain affiliates of Palos Capital, certain former shareholders of the Company and directors and officers of the Company, and (iii) Fintech Ventures Fund, LLLP ("FinTech"), has acquired all of the issued and outstanding common shares of IOU (the "Shares"), other than certain Shares held by Neuberger Berman, Palos and FinTech, who received, in respect of such Shares, consideration consisting of common shares of the Purchaser, for a purchase price of $0.22 in cash per Share.

Key Points: 
  • MONTREAL, Sept. 29, 2023 /PRNewswire/ - IOU Financial Inc. (TSXV: IOU) ("IOU" or the "Company") today announced the completion of the transaction under which 9494-3677 Québec Inc. (the "Purchaser"), a corporation created by a group composed of (i) funds managed by Neuberger Berman ("Neuberger Berman"), (ii) funds managed by Palos Capital, including Palos IOU Inc. (together with Palos Capital, "Palos"), a newly-formed company consisting of certain affiliates of Palos Capital, certain former shareholders of the Company and directors and officers of the Company, and (iii) Fintech Ventures Fund, LLLP ("FinTech"), has acquired all of the issued and outstanding common shares of IOU (the "Shares"), other than certain Shares held by Neuberger Berman, Palos and FinTech, who received, in respect of such Shares, consideration consisting of common shares of the Purchaser, for a purchase price of $0.22 in cash per Share.
  • As a result of the completed transaction, the Shares are expected to be delisted from the TSX Venture Exchange (the "TSX-V") at the close of trading on October 6, 2023.
  • The Company will submit an application to cease to be a reporting issuer under applicable Canadian securities laws and to otherwise terminate the Company's public reporting requirements.

GLOBALPRO NAMES MATTHEW SENGSOURINH PRESIDENT

Retrieved on: 
Monday, September 18, 2023
Insurance, Creativity, Growth, Senior, Attention, Risk, Investment, Neuberger Berman, Management, Yisroel Ber Odesser

MIAMI, Sept. 18, 2023 /PRNewswire/ -- GlobalPro announced today the appointment of Matthew Sengsourinh, as President of the Florida office, effective September 18, 2023. Formerly serving as the Senior Vice President, this promotion will serve as part of the company's plans for continued growth. Sengsourinh is an experienced business leader who has worked in senior roles across several industries, including finance and insurance.

Key Points: 
  • MIAMI, Sept. 18, 2023 /PRNewswire/ -- GlobalPro announced today the appointment of Matthew Sengsourinh, as President of the Florida office, effective September 18, 2023.
  • Sengsourinh is an experienced business leader who has worked in senior roles across several industries, including finance and insurance.
  • Since 2012, Odess has led GlobalPro through a strong growth phase, along with the expansion of services, new verticals and the development of GlobalPro new growth strategy.
  • Most recently, Sengsourinh was Senior Vice President., focusing most of his efforts on the Northeast Region.

IOU Financial Inc. Obtains Final Order Approving Plan of Arrangement

Retrieved on: 
Friday, September 15, 2023
Model Business Corporation Act, Superior court, Fintech, Arrangement, IOU, LLLP, Neuberger Berman, Security (finance), Rare-earth element, Bank

MONTREAL, Sept. 15, 2023 /PRNewswire/ - IOU Financial Inc. (TSXV: IOU) ("IOU" or the "Company") today announced that it has obtained a final order from the Superior Court of Québec approving the previously-announced statutory plan of arrangement under the Business Corporations Act (Québec) (the "Arrangement") pursuant to which 9494-3677 Québec Inc., a corporation created by a group composed of (i) funds managed by Neuberger Berman ("Neuberger Berman"); (ii) funds managed by Palos Capital, including Palos IOU Inc. ("Palos IOU" and, together with Palos Capital, "Palos"), a newly-formed company consisting of certain affiliates of Palos Capital, certain former shareholders of the Company and directors and officers of the Company; and (iii) Fintech Ventures Fund, LLLP ("FinTech"), will acquire all of the issued and outstanding common shares of IOU (the "Shares") other than certain Shares to be re-invested by Neuberger Berman, Palos, FinTech and certain members of management of the Company, for a purchase price of $0.22 in cash per Share.

Key Points: 
  • MONTREAL, Sept. 15, 2023 /PRNewswire/ - IOU Financial Inc. (TSXV: IOU) ("IOU" or the "Company") today announced that it has obtained a final order from the Superior Court of Québec approving the previously-announced statutory plan of arrangement under the Business Corporations Act (Québec) (the "Arrangement") pursuant to which 9494-3677 Québec Inc., a corporation created by a group composed of (i) funds managed by Neuberger Berman ("Neuberger Berman"); (ii) funds managed by Palos Capital, including Palos IOU Inc. ("Palos IOU" and, together with Palos Capital, "Palos"), a newly-formed company consisting of certain affiliates of Palos Capital, certain former shareholders of the Company and directors and officers of the Company; and (iii) Fintech Ventures Fund, LLLP ("FinTech"), will acquire all of the issued and outstanding common shares of IOU (the "Shares") other than certain Shares to be re-invested by Neuberger Berman, Palos, FinTech and certain members of management of the Company, for a purchase price of $0.22 in cash per Share.
  • Closing of the Arrangement is expected to occur on or about September 22, 2023.