New York: Neuberger Berman today announced that it has acquired from Horizon Kinetics an investment team that manages collateralised index-based options portfolios that seek to capture global volatility premiums. The team’s investment track records, proprietary research and client assets have also transferred to Neuberger Berman.
Neuberger Berman’s new options investment team is overseen by Doug Kramer, who joined the firm in November 2015 as Co-Head of Quantitative & Multi-Asset Class Investments (working alongside current Multi-Asset Class Chief Investment Officer Erik Knutzen). Derek Devens also joins Neuberger Berman from Horizon Kinetics as a Managing Director and senior portfolio manager along with research analysts, Rory Ewing and Eric Zhou. With the addition of this team, Neuberger Berman strengthens its lineup of systematic, outcome oriented investment capabilities.
Previously, Mr. Kramer was CEO of Horizon Kinetics, an investment management firm with approximately $8 billion in assets under management, and prior to that a Managing Principal of Quadrangle Group and a Partner of Goldman, Sachs & Co., where he served as Chief Investment Officer and Head of the Global Manager Strategies Group.
Joseph Amato, President and Chief Investment Officer, Equities, at Neuberger Berman, said “This highly differentiated global options strategy has a demonstrated, long-term track record of delivering attractive risk-adjusted returns. Doug’s leadership and investment expertise is valuable as we serve global investors seeking innovative, outcome oriented solutions.”
Mr. Kramer said of coming to Neuberger Berman, “The breadth and rigor of Neuberger Berman’s investment capabilities is well-suited to serve a wide variety of client needs. I am excited to be working with such a talented group of investment professionals as we help clients achieve their unique investment objectives.”
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 19 countries, Neuberger Berman’s team is more than 2,100 professionals and the company was named by Pensions & Investments as a 2013, 2014, and 2015 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $237 billion in client assets as of September 30, 2015. For more information, please visit www.nb.com.
About Horizon Kinetics
Horizon Kinetics, founded in 2011, is the consolidated parent company of Horizon Asset Management LLC, founded in 1994, and Kinetics Asset Management LLC, founded in 1996, together with various affiliates. Horizon Kinetics is an independently owned and operated investment boutique firm that produces a number of proprietary research reports and adheres to a long-term, contrarian, fundamental value investment philosophy that the founders established over 26 years ago at Bankers Trust Company. It managed approximately $8 billion in client assets as of September 30, 2015. For more information, please visit www.horizonkinetics.com.
All information is as of September 30, 2015 unless otherwise indicated and is subject to change without notice. Firm data, including employee and assets under management figures, reflects collective data for the various affiliated investment advisers that are subsidiaries of Neuberger Berman Group LLC. Firm history dates back to the 1939 founding of Neuberger & Berman (the predecessor to Neuberger Berman LLC).
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