Neuberger Announces New Distressed Credit Team

May 21, 2009 ( - Neuberger Berman Group LLC announced Michael J. Holmberg, a veteran distressed credit portfolio manager, has joined the firm.

Holmberg, who will be based in Chicago, joins Neuberger Berman’s integrated Leveraged AssetManagement platform, which will be extending its product offerings to include distressed credit securities, the announcement said. Before joining Neuberger Berman, Holmberg founded Chicago-based Newberry Capital Management LLC, which focused on managing distressed credit-related assets for institutional clients.

Holmberg is bringing with him to Neuberger a team of four other investment professionals from Newberry Capital.

“Michael Holmberg’s experience and knowledge fit in nicely with our existing capabilities and we look forward to working with him to add value for our clients,” said Ann Benjamin, co-head of Leveraged Asset Management with Neuberger Berman, in the announcement.