Neuberger Announces New Distressed Credit Team

Neuberger Berman Group LLC announced Michael J. Holmberg, a veteran distressed credit portfolio manager, has joined the firm.

Holmberg, who will be based in Chicago, joins Neuberger Berman’s integrated Leveraged Asset Management platform, which will be extending its product offerings to include distressed credit securities, a release said. Before joining Neuberger Berman, Holmberg founded Chicago-based Newberry Capital Management LLC, which focused on managing distressed credit-related assets for institutional clients.

Holmberg is bringing with him to Neuberger a team of four other investment professionals from Newberry Capital.