Private equity firms Bain Capital Partners and Hellman & Friedman acquired Neuberger Berman Monday for $2.15 billion, with the two firms holding equal positions in Neuberger, the firm’s portfolio managers given a “significant stake” and the deal expected to close early next year.

Joe Amato, head of Neuberger Berman, said: “The portfolio managers across equities, fixed income and alternatives are all energized by the opportunity to reinforce and enhance our already high standards of investment performance and client service, combined with the opportunity to re-establish a direct ownership basis in the business.”

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