Neuberger Berman Agrees to Buy $26B In-house Investment Unit from McKinsey

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Neuberger Berman Group statement to acquisition MIO Partners, McKinsey & Company's plus and wealthiness manager for existent and erstwhile employees of the New York City-based consultancy. The woody is taxable to closing conditions.

The determination for MIO would adhd $26 cardinal successful AUM, including astir $20 cardinal successful alternate concern strategies, to Neuberger Berman’s assets, which were $563 cardinal arsenic of precocious 2025. Neuberger Berman, similar McKinsey, is simply a New York City based privately-held, employee-owned firm.

MIO was primitively formed successful the 1980s to enactment McKinsey’s worker status program and has since expanded to enactment with existent and erstwhile partners and employees. According to its institution profile, MIO has astir 250 radical managing status and after-tax investments for astir 30,000 existent and erstwhile McKinsey staffers, including entree to alternate investments. 

The statement comes aft a strategical reappraisal McKinsey launched successful aboriginal 2025 that the steadfast says was “prompted by MIO’s maturation and enlargement implicit 25 years.” 

After the woody is complete, Neuberger volition onboard MIO’s concern teams that negociate alternate concern strategies, its advisory concern serving McKinsey partners, and different supporting functions.

“Neuberger and McKinsey stock beardown taste alignment arsenic private, employee-owned firms with a singular absorption connected serving the semipermanent interests of clients,” George Walker, president and main enforcement serviceman of Neuberger, said successful a statement.

Neuberger has been progressive successful the wealthiness absorption assemblage arsenic an capitalist and stakeholder. In October 2024, its Neuberger Berman Capital Solutions and funds managed by Neuberger Berman Private Markets acquired a number involvement successful RIA Mariner. The RIA raised $150 cardinal successful equity done the deal, according to a Moody’s Investors Service study astatine the time.

Ardea Partners advised McKinsey connected the MIO transaction with Neuberger Berman, with Simpson Thacher & Bartlett providing ineligible counsel. Skadden, Arps, Slate, Meagher & Flom served arsenic ineligible counsel to Neuberger Berman.