May 5, 2009 (New York, NY) - International law firm Proskauer Rose LLP represented the employee-led buyout group in the recently announced completion of its purchase of Neuberger Berman Group LLC. The deal creates one of the world's largest private, independent money managers for institutions and individuals, with approximately $158 billion under management. 

The employee group, which consists of portfolio managers and senior professionals, is the majority owner of the newly formed independent company. Lehman Brothers Holdings Inc., the firm's previous owner, retains the remainder. Formed in 1939, Neuberger Berman employs approximately 1,600 people, including more than 250 investment professionals, and is a leading provider of global equity, fixed income and alternative investment solutions to institutions and individuals.

The interdisciplinary Proskauer team that represented the employee group was comprised of: partners Peter Samuels, Mike Sirkin, James Gerkis, Rima Moawad, Jeff Levitan, Mike Album, David Picon, Stuart Rosow, Ira Bogner, Timothy Clark, Seth Schafler and Stuart Bressman; senior counsel Reid Arstark, Tim Drake and Daniel Bernstein; associates Michael Callahan, Ellen Czura, Stephen Francis, Hope Garcia, Michael Goldklang, Kristin Herring, Eric Jokinen, Stacey Klein, Orrin Levine, Matthew Schneider, Ronald Palmese, Melissa Rivero, Gary Ross, Sara Van Dyke, Adam Klepack, Scott Witonsky and Marc Zametto; and law clerk Arnab Chaudhuri.