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September 22, 2017

Neuberger Berman takes over quant firm Breton Hill Capital

American investment management firm Neuberger Berman has bought Canadian quantitative investment manager Breton Hill Capital (BHC) for an undisclosed sum.

Toronto-based BHC manages around $2bn in assets for a range of clients including institutions, ultra-high net worth individuals and retail investors. The firm focuses on offering alternative risk premia and multi-factor solutions covering equities, currencies, commodities, and rates.

The BHC management team, including 11 investment professionals, will join Neuberger Berman in the final quarter of 2017 as part of the deal.

BHC CEO, CIO and co-founder Ray Carroll said: “Joining Neuberger Berman will allow us to focus more time on investing, researching new signals, analyzing alternative data sources, and enhancing our technological infrastructure. In addition, we believe Neuberger Berman’s private ownership structure—which aligns our interests with clients–promotes stability and long-term success.”

BHC’s technology platform and investment philosophy were developed by Carroll, along with other co-founders Ray Simon Griffiths and Frank Maeba. The investment process will remain the same and will continue to be headed by Carroll.

Neuberger Berman Canada managing director Clay Khan said: “This team joining our firm further demonstrates our commitment to the Canadian marketplace. Their capabilities significantly augment our ability to deliver a broad set of investment strategies to the Canadian investment community.”

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