Neuberger partners has announced that it is to acquire the management rights to invest $ 500 in private equity funds of funds backed by Merrill equity Alternative Investments , Bank of America 's alternative investment business . The funds of funds have c. $ 500 in total assets .
Neuberger Berman has announced that it is to acquire the management rights to c. $1bn in private equity funds of funds managed by Merrill Lynch Alternative Investments, Bank of America's alternative investment business. The funds of funds have c. $2bn in total commitments.