Neuberger Berman Group LLC, the money manager that was part of Lehman Brothers Holdings Inc. until that firm failed, has more than doubled its assets in East Asia since March 2010 and plans to add staff in the region.
Neuberger Berman Group, an investment unit of Lehman Brothers Holdings Inc. until that firm succumbed to the U.S. subprime crisis, produced the best real- estate returns of the past five years by betting on less- indebted companies that could survive tough times.
First Data Corp., the payment processor that isn’t earning enough money to reduce its $23 billion debt load from a 2007 buyout, is raising optimism among bondholders that it will sell shares to cut leverage.
Fred Stein, who gave himself a crash course in investing before embarking on a Wall Street career culminating in three decades as a money manager and mentor at Neuberger Berman LLC, has died. He was 84.