Hedge Funds

Neuberger Berman rolls out Niles tech fund


Neuberger Berman has rolled out its first single-manager hedge fund as a joint venture with former Lehman Brothers proprietary trader Dan Niles. The Neuberger Berman Technology Fund started March 1 with $100 million in proprietary capital from Lehman Brothers and its subsidiary Neuberger Berman. Both the domestic and offshore partnerships will open to outside investors in April.

Niles, who is heading up a team of eight, uses a bottom-up fundamental research and top-down macro analysis, which looks to identify discrepancies between the Street's expectations and an internal perspective of company earnings, as well as identifying cyclical/secular inflection points that