Neuberger Berman said today that it has struck an agreement to acquire most of the assets of LibertyView Capital Management. The assets are currently controlled by Credit Agricole Indosuez, part of Credit Agricole Group.
The acquisition, in which Neuberger Berman will take charge of roughly $1 billion in assets, is expected to close by year-end. Neither company disclosed the terms, and the firms said that completion of the deal is still subject to the signing of contracts and other, unspecified factors.
Richard Meckler, currently LibertyView president and CIO, will become president of the LibertyView Capital Management division of Neuberger Berman. He will also serve as managing director of alternative investments for the firm.
LibertyView is an alternative investment manager that specializes in equity, credit, volatility and mortgage-backed arbitrage and investing.