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Money Management

Neuberger Berman’s Shanghai-based affiliate obtains private fund license for China

Neuberger Berman announced its Shanghai-based affiliate has secured registration as a private fund manager with the Asset Management Association of China, confirmed spokesman Alexander Samuelson.

Now that it has been registered, Neuberger Berman Investment Management (Shanghai) Ltd. can now "manage private funds and raise assets directly" from investors in mainland China, a news release said.

Neuberger Berman announced the opening of the wholly foreign-owned Shanghai-based affiliate in April.

Neuberger Berman manages $284 billion in assets as of Sept. 30.