US investment firm Neuberger Berman has paired up with third-party distributor Becon Investment Management in a move to boost its presence among Latin America's private banks, independent wealth managers and multi-family offices, Citywire Americas can reveal.
Neuberger Berman, which initially entered the Latin American market in 2010, has traditionally focused on relationships with pension funds, central banks and institutional investors.
It now looks to deepen its connection to the region's wealth advisory industry through Becon, which will promote and distribute Neuberger Berman’s range of 40 Ucits funds that currently have about $20 billion in assets under management.
The agreement marks Becon's second partnership since being set up by former MFS trio Jose Noguerol, Fredrick Bates and Florencio Mas in late 2016. In January it signed on New York-based manager Cullen Funds.
Maximiliano Rohm, who oversees the Neuberger Berman’s corporate development in Latin America, said the collaboration with Becon will now give Latin American intermediaries better access to the firm.
‘Our sole objective is to perform for our clients and we look forward to expanding our offering in the region,’ said Argentina-based Rohm.
Becon's Bates added: ‘We are looking forward to presenting the Neuberger Berman platform to our clients and are proud to represent and expand the firm’s presence in Latin America.’
Neuberger Berman opened its first location in Latin America in Buenos Aires, Argentina in 2011 followed by a launch in Bogotá, Colombia in early 2015.
According to the latest AFP report, Chilean pension funds have a total of $91.5 million in the asset manager’s funds.