Neuberger Berman has agreed to assume control of MIO Partners, the $20bn investment arm of McKinsey & Co, in a transaction that brings one of the most established in-house hedge fund and alternative investment platforms under the ownership of a global asset manager, according to a report by Bloomberg.
The deal, subject to regulatory approval, will see MIO’s investment advisory business and around 280 employees transfer to Neuberger, where the unit will continue to operate as a distinct platf...
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