New York City-based investment manager Neuberger Berman Group LLC is set to enhance its quantitative investment capabilities by welcoming the team from Toronto-based Breton Hill Capital Ltd. (BHC), an investment firm managing approximately $2.45 billion in client assets.
BHC manages capital for a diverse investor base of institutions, ultra-high net worth individuals and retail investors across various investment vehicles.
BHC's investment philosophy, process, and proprietary technology platform were developed by its co-founders, Ray Carroll, Simon Griffiths, and Frank Maeba, who have worked together for over 19 years, according to the firm's announcement.
They are supported by 11 additional investment professionals, all of whom are expected to join Neuberger Berman.
"Breton Hill's investment process will continue to be led by co-founder Ray Carroll. There will be no changes to the BHC investment process," the firms say.
"Neuberger Berman is a cultural fit for Breton Hill, valuing independent, original thinking. This move allows us to invest in the same manner we always have, while leveraging the deep resources of a large, global investment firm," says Carroll in a statement.
The BHC team is expected to join Neuberger Berman in the fourth quarter of 2017.