Neuberger Berman completes MBO from Lehman

Neuberger Berman has become entirely employee-owned once more after a management buyout to buy back the Lehman estate's stake in the firm.

The purchase, finalised on 19 December, means the process of returning to employee ownership was completed ahead of the schedule outlined by the company in 2011. At that time, Neuberger management owned 52% of the company, while the Lehman estate owned 48%. Following the collapse of Lehman Brothers in 2008, Neuberger’s management team bid against private equity to gain control of the firm. They then began the buyout process. Since the buyout was announced, the firm has begun to expand its operations. Last month, it launched a new UCITS strategy for UK investors while earlier in th...