Neuberger Berman Group hired Newberry Capital Management founder Michael J. Holmberg and the entire investment management group he led at the firm, said Randall B. Whitestone, spokesman for Neuberger Berman.
Mr. Holmberg was named managing director; joining him at Neuberger are Pat Maxwell as senior vice president, and Brendan McDermott, Jeff Habicht and Ravi Soni as vice presidents.
The positions at Neuberger are new. The manager will add distressed debt investment strategies to its leveraged asset management platform.
Newberry Capital Management is closing.