Neuberger Berman acquired Cartesian Re from Cartesian Capital.

Neuberger Berman has broadened its alternative investment platform through the acquisition of specialist asset manager Cartesian Re, which with its affiliate Iris Re, manages more than $1bn in assets under management focusing on the insurance-linked strategies asset class. Financial terms were not disclosed. “The investment team from Cartesian Re brings to our clients an established track record from unique investments that are not correlated with traditional asset classes. Peter and his team started with a concept and have built a world-class organization and we look forward to working together.” Tony Tutrone, Neuberger Berman Head of Alternatives.