Neuberger Acquires High-Net-Worth Assets
New York-based investment advisor Neuberger Berman announced that it will acquire the $800 million in assets managed by Oscar Capital Management LLC. The deal is expected to close by year-end.
The assets are comprised of mostly high-net-worth separate accounts.
All four of Oscar Capital's senior partners will become managing directors at Neuberger, according to a statement. They include Andrew K. Boszhardt Jr., Anthony Scaramucci, Yolanda Turocy and Brett Messing. Boszhardt and Scaramucci, both former Goldman Sachs executives, founded Oscar capital in 1996. The firm specializes in serving wealthy and institutional clients.
Terms of the deal were not disclosed.