Tuesday, February 10, 2026

Neuberger Berman Agrees to Purchase $26B MIO from McKinsey

Neuberger Berman Group settlement to buy MIO Companions, McKinsey & Firm’s asset and wealth supervisor for present and former staff of the New York Metropolis-based consultancy. The deal is topic to closing circumstances.

The transfer for MIO would add $26 billion in AUM, together with about $20 billion in various funding methods, to Neuberger Berman’s property, which had been $563 billion as of late 2025. Neuberger Berman, like McKinsey, is a New York Metropolis based mostly privately-held, employee-owned agency.

MIO was initially fashioned within the Eighties to assist McKinsey’s worker retirement plan and has since expanded to work with present and former companions and staff. In accordance with its firm profile, MIO has about 250 individuals managing retirement and after-tax investments for about 30,000 present and former McKinsey staffers, together with entry to various investments.

The settlement comes after a strategic assessment McKinsey launched in early 2025 that the agency says was “prompted by MIO’s development and growth over 25 years.”

Associated:Public Choices of Personal Securities

After the deal is full, Neuberger will onboard MIO’s funding groups that handle various funding methods, its advisory enterprise serving McKinsey companions, and different supporting capabilities.

“Neuberger and McKinsey share robust cultural alignment as non-public, employee-owned corporations with a singular concentrate on serving the long-term pursuits of purchasers,” George Walker, chairman and chief government officer of Neuberger, mentioned in an announcement.

Neuberger has been lively within the wealth administration sector as an investor and stakeholder. In October 2024, its Neuberger Berman Capital Options and funds managed by Neuberger Berman Personal Markets acquired a minority stake in RIA Mariner. The RIA raised $150 million in fairness by means of the deal, in keeping with a Moody’s Traders Service report on the time.

Ardea Companions suggested McKinsey on the MIO transaction with Neuberger Berman, with Simpson Thacher & Bartlett offering authorized counsel. Skadden, Arps, Slate, Meagher & Flom served as authorized counsel to Neuberger Berman.

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