With the announcement of a partnership today between BlockFi, a cryptocurrency financial services company, and Neuberger Berman, a privately held, independent, and employee-owned investment management firm, a series of crypto asset management products and strategies will be developed and distributed. BlockFi nb LLC (“BlockFi | nb”) will be responsible for the development and distribution of these goods and strategies.
BlockFi is a new type of financial services firm that was founded in 2014. Zac Prince and Flori Marquez founded BlockFi in 2017 with the goal of connecting cryptocurrency investors with conventional financial and wealth management solutions in order to promote the whole digital asset ecosystem for both individual and institutional investors. Incorporated in 1939, Neuberger Berman is a private, independent, and employee-owned investment management firm.
It manages a variety of strategies on behalf of institutions, advisers, and individual investors across the world, including equities and fixed-income investments as well as quantitative and multi-asset class strategies. The business also manages private equity, real estate, and hedge funds. Neuberger Berman’s diversified workforce of over 2,400 employees is spread across 25 offices in different countries.
The organization has been ranked first or second in the Pensions & Investments Best Places to Work in Money Management poll for seven straight years (among those with 1,000 employees or more). Neuberger Berman was selected a Leader by the Partnership for Responsible Investment (PRI) in 2020, a distinction bestowed to less than one percent of investment companies for excellence in Environmental, Social, and Governance (ESG) activities.
As of September 30, 2021, the business was responsible for $437 billion in customer assets. It is via this collaboration that Neuberger Berman and BlockFi are demonstrating their commitment to innovation and offering innovative solutions for customers in rapidly changing markets.
As cryptocurrency assets continue to expand and evolve, customers will look for solutions from organizations that have proven investing leadership and a thorough grasp of the asset class in which they invest. BlockFi | nb will strive to achieve this goal, beginning with the provision of crypto access solutions.
As part of Neuberger Berman’s increasing array of actively managed crypto strategies, as well as BlockFi’s retail and institutional crypto solutions, the crypto access solutions provided by BlockFi | nb will be available. In the words of Greg Collett, President of BlockFi | nb, “we are seeing a huge movement in investor attitude towards digital assets,” and “we feel that digital assets should be incorporated in contemporary portfolios.”
“In addition to the crypto expertise of BlockFi, BlockFi | nb brings the institutional rigor of Neuberger Berman to the table. It is our belief that this combination will allow us to improve on products that are presently on the market, allowing us to provide investors with cost-effective and quick access to the performance of digital assets via their brokerage accounts.”
“We’re looking forward to working with you as we continue to develop and broaden the range of alternatives accessible to investors. In recent years, digital assets have gradually gained traction as mainstream investments, and we expect BlockFi | nb to play a significant part in this endeavor” Peter Sterling, Managing Director at Neuberger Berman and a member of the BlockFi | nb board of directors, shared his thoughts.
Crypto asset management solutions, including as exchange-traded funds (ETFs) and other conventional structures, are expected to be launched by BlockFi | nb in the near future, providing investors with cost-effective and accessible access to the performance of crypto assets in their brokerage accounts.