McKinsey Transfers Control of $20 Billion Investment Arm to Neuberger

McKinsey & Company has decided to transfer control of its $20 billion investment division to Neuberger Berman. Bloomberg posted on X that this move marks a significant shift after years of McKinsey managing the investments of its current and former partners through complex hedge fund and alternative strategies. The decision reflects a strategic change in how the consulting firm handles its financial assets, aiming to streamline operations and focus on its core consulting services. Neuberger Berman, known for its expertise in asset management, will now oversee the investment arm, potentially bringing new strategies and insights to the portfolio. This transition is expected to impact the management of funds and the future direction of investments previously handled by McKinsey.