Neuberger Bermanis bringing value investment management shopGlickenhaus & Co. and its $900 million in client assets for high net worth individuals and non-profit institutions into its fold.
Portfolio management responsibilities will transition to Neuberger Berman'sStraus Group, led by senior partnerMarvin Schwartz. The Straus Group currently manages approximately $11 billion of client assets. Glickenhaus & Co. portfolio managersSeth Glickenhaus,James GlickenhausandAl Feinmanwill serve as senior advisors to the Straus Group, although direct management of client accounts will be at the sole discretion of Neuberger Berman.
"We have had a close relationship with our friends at Neuberger Berman for decades and we have the greatest admiration for their work as well as for the firm's commitment to partnering with clients,'' stated Glickenhaus.
"I believeMarvin Schwartzand his team have all the skills, resources and, most importantly, judgment, to successfully continue in our tradition of value investing for our clients."