Neuberger Berman to acquire MIO Partners from McKinsey & Company.

Neuberger Berman, an investment firm, agreed to acquire MIO Partners, a global investment and advisory firm, from McKinsey & Company, an American worldwide management consulting firm. Financial terms were not disclosed. "For more than 25 years, MIO has delivered distinctive services to McKinsey's partners, colleagues, and alumni. McKinsey set out to find a long-term partner that could build on what makes MIO great. Neuberger is that partner. Their record in both investment and wealth management, and their partnership culture, convinced us that they were the right long-term steward of MIO, and we're excited to see what the future brings," Bob Sternfels, McKinsey & Co Global Managing Partner.