Neuberger Berman Hires Distressed Credit Manager

Michael Holmberg, formerly of Newberry Capital Management, has joined Neuberger Berman’s distressed credit team.

Press release:

Neuberger Berman Group LLC, a leading privately held, independent
money manager, said Michael J. Holmberg, an experienced and accomplished distressed credit
portfolio manager, has joined the firm with a team of four other investment professionals from Mr.
Holmberg’s previous firm, Newberry Capital Management LLC.
Mr. Holmberg, who will be based in Chicago, joins Neuberger Berman’s integrated Leveraged Asset
Management platform, which will be extending its product offerings to include distressed credit
securities.
“We are delighted to be able to add someone of Michael Holmberg’s stature to focus on the
compelling distressed credit investment opportunities available in the marketplace today,’’ said
Joseph Amato, president of Neuberger Berman. “Michael and his team have a history of delivering
for their clients and are a great fit for Neuberger Berman’s investment culture.”
Before joining Neuberger Berman, Mr. Holmberg founded Chicago-based Newberry Capital, which
focused on managing distressed credit-related assets for institutional clients. Michael began his
career investing in distressed credit at Continental Bank in 1988 where he established and managed
the bank’s global proprietary account. Michael also served as a key principal with Moore Strategic
Value Partners in Tokyo and New York.
“Michael Holmberg’s experience and knowledge fit in nicely with our existing capabilities and we
look forward to working with him to add value for our clients,” said Ann Benjamin, co-head of
Leveraged Asset Management with Neuberger Berman.
“The opportunities and valuations in credit investing are tremendous today and Michael brings an
added dimension to our already large and experienced credit team,” added Brad Tank, Chief
Investment Officer – Fixed Income with Neuberger Berman.
“We are excited to join Neuberger Berman, which is independent once more and demonstrating
great momentum,” Mr. Holmberg said. “The strength of Neuberger’s platform made it an easy
decision for us to come on board at this time.”
About Neuberger Berman
Established in 1939, Neuberger Berman is one of the world’s largest private, independent asset
management companies, managing approximately $160 billion in assets. With approximately 1,600
employees, including more than 250 investment professionals, Neuberger Berman is a leader in
providing a broad range of global investment solutions – equity, fixed income, and alternatives – to
institutions and individuals through customized separately managed accounts and funds.
Approximately 50% of the assets are managed in core and specialty fixed income and liquidity
portfolios, 40% in a broad range of equity portfolios, and 10% in alternative investment products
including hedge funds and private equity funds. For more information please visit our website at
www.nb.com.