Neuberger Berman provides asset management and trust services to individual and institutional investors. The company manages about 30 mutual funds invested in US and international equities and corporate and municipal bonds, as well as specialty funds. It also offers closed-end funds, variable annuity portfolios, separate accounts,and alternative investments such as hedge funds and private equity. Neuberger Berman operates more than two dozen offices in the US, Europe, and the Asia/Pacific region. Employees own a majority of the firm, which has some $200 billion of assets under management. Institutional clients account for more than half of that total.