Neuberger Berman takes over $900 million in Glickenhaus assets

Neuberger Berman will take over management of $900 million in client assets under management from Glickenhaus & Co., confirmed Alexander Samuelson, Neuberger Berman spokesman.

Terms were not disclosed.

Marvin Schwartz, managing director and senior partner at Neuberger Berman and leader of the firm's Straus Group, which specializes in value equity, will be the lead portfolio manager of the acquired assets, according to statement on Glickenhaus' website.

Seth Glickenhaus, chief investment officer at Glickenhaus & Co., and portfolio managers James Glickenhaus and Al Feinman will serve as senior advisers.

Glickenhaus & Co. will continue to manage its family office and foundation assets.

A phone call to Linda Anderson, Glickenhaus & Co. compliance director, was not returned by press time.