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- Date Announced
- Seller AUM
- David J. Greene & Company, LLC
- Lehman Brothers
- Wealth Management Firms
- April 24, 2008
- $2 Billion
Started in 1938 and still run by its founding family, New York-based, David J. Greene, with approximately $2 billion in assets under management, focuses on stocks it believes are significantly undervalued with a catalyst capable of moving the price toward its intrinsic value.
Lehman Brothers, an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients and high net worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leaderships positions in equity and fixed income sales, trading and research, asset management and private equity. The Firm is headquartered in New York, with regional headquarters in London and Tokyo and operates in a network of offices around the world.
The transaction adds to the capabilities of Neuberger Berman, which manages approximately $145 billion in assets for high net worth and institutional clients. With 10 investment professionals, David J. Greene becomes one of the money-management teams within Neuberger Berman Private Asset Management. The transaction, structured as an asset purchase, is expected to close in the third quarter. The terms of the transaction were not disclosed.
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