[4] On September 15, 2008, virtually unprecedented volatility in global securities markets resulted in Lehman Brothers’ collapse and bankruptcy filing.

On September 29, 2008, Lehman agreed to sell its asset management businesses, including Neuberger Berman, to a pair of private-equity firms, Bain Capital Partners and Hellman & Friedman.

The transaction was expected to close in early 2009;[10] however, a competing bid was entered by the firm's management, who ultimately prevailed in a bankruptcy auction held on December 3, topping the deal with Bain and Hellman.

During this period the firm expanded its global presence, adding coverage offices in key Asia-Pacific markets and elsewhere to be closer to a growing overseas client base.

[20] The end of 2014 marked Neuberger Berman's return to full employee ownership, highlighting the firm's independence and clearing the path for future growth.

[24][25][26] In September 2017, Neuberger Berman bought Toronto's Breton Hill Capital for US$2 billion in assets under management.

[30] The Neuberger Berman Foundation offers grants focusing on at-risk children, youth educational programs, and economic sustainability.

[30][36] Through the years, some of the programs Neuberger Berman has been involved in are: The Y,[37] Homes for Heroes,[38] Per Scholas,[39] C-CAP,[40] New York City Service,[41][42] and Habitat for Humanity.