A. Description of Neuberger Berman Singapore Pte. Limited (“NBS”) and the Firm
NBS
NBS is a Singapore private company with limited liability formed in November 2008. It is
licensed with and regulated by the Monetary Authority of Singapore to undertake the regulated
activity of fund management.
NBS is directly owned by Neuberger Berman Asia Holdings II LLC, which is, in turn, owned by
Neuberger Berman Asia Holdings LLC, which is a wholly-owned subsidiary of Neuberger
Berman Group LLC (“NBG”).
The Firm
NBG is a holding company, the subsidiaries of which (collectively referred to herein as the
“Firm” or “Neuberger Berman”) provide a broad range of global investment solutions – equity,
fixed income, multi-asset class and alternatives – to institutions and individuals through
products including separately managed accounts, registered funds and private investment
vehicles. As of December 31, 2023, Neuberger Berman had approximately $463 billion under
management.
1
NBG’s voting equity is wholly owned by NBSH Acquisition, LLC (“NBSH”). NBSH is owned by
current and former employees, directors, consultants and, in certain instances, their permitted
transferees.
Neuberger Berman is headquartered in New York City. As of December 31, 2023, Neuberger
Berman had approximately 2,826 employees in 39 cities around the world.
NBS’s investment management services are further discussed below.
B. Types of Advisory Services
NBS currently provides the following types of investment management services:
Funds
NBS does not currently serve as the investment manager for any pooled investment vehicles;
however, it could do so in the future.
1 Firm assets under management figures reflect the collective assets for the various subsidiaries
of NBG.
Sub-Advised Accounts
NBS has been engaged by certain affiliates
to act as sub-adviser and/or sub-investment manager
in respect of certain pooled investment vehicles (the “Funds”) and/or accounts managed by
such affiliates (“Sub-Advised Accounts”), whereby such affiliates have delegated discretionary
authority to NBS.
Separate Accounts
NBS provides ongoing discretionary investment management services to institutional clients with
respect to assets held in the client’s custodial account (collectively, “Separate Accounts”) based on
customized investment objectives or guidelines, time horizons, risk tolerances, policies and
limitations of such clients.
The Funds, Sub-Advised Accounts and/or Separate Accounts to which NBS provides investment
management services, are each referred to in this Brochure as a “Client”, and collectively
referred to as “Clients.” Further, the Client account to which NBS provides investment
management services, is referred to as a ”Client Account” and collectively as “Client Accounts.”
C. Client Tailored Services and Client Tailored Restrictions
NBS generally provides its investment management services pursuant to a discretionary
investment management agreement.
NBS’s advisory services are performed in accordance with the terms of each investment
management agreement. Each Client is likely to impose investment restrictions or guidelines for
its account as it deems appropriate to achieve its particular investment objective. Such
investment restrictions and/or guidelines are typically described in the respective private
placement memorandum, prospectus or other offering document (the “Offering Documents”)
for each Fund, or in the case of other Client Accounts, in the relevant investment management
agreement.
D. Wrap Programs
NBS does not sponsor or participate in wrap fee programs.
E. Assets Under Management
Discretionary Amounts: Non-Discretionary Amounts: Date Calculated:
$28,406,072,546 $0 12/31/2023