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 deal will be financed with a combination of debt and equity, which means that shareholders are unlikely to see any immediate benefit from it.
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.