Money Management

Neuberger Berman hires China group

Bin Yu joined Neuberger Berman in Hong Kong as a senior portfolio manager and head of China equities group, confirmed Nick Hoar, the firm's Asia-Pacific CEO.

Mr. Yu was founder of Cloud Ridge Capital. That firm has closed, said Alexander Samuelson, a New York-based spokesman for Neuberger. Cloud Ridge Capital's team of four research analysts based in Hong Kong and Beijing also joined Neuberger Berman and will continue to manage its existing Caymans-domiciled strategy as a private fund, along with new offerings.

Mr. Samuelson declined to provide details about the existing strategy's assets under management.

Mr. Yu and his team bring "strong local expertise and experience" in both mainland-listed A shares and Hong Kong-listed H shares, with a high-conviction, value-oriented approach, a Neuberger Berman news release stated.