How Anduin Helps Build a Digital Foundation for Growth at Neuberger Berman
The Challenge: Neuberger's Battle with Fragmented Data and Disjointed Systems
Just a year ago, Neuberger Berman (Neuberger) was battling a quiet revolution: there needed to be a golden source of truth for investor data. Like many other large firms, Neuberger managed investor information across several platforms—from CRM to fund administration tools—often duplicating the same data fields in multiple systems. This created inefficiencies and required significant manual oversight, especially during investor onboarding.
With collaboration in mind, Neuberger set a high bar. They wanted to rigorously pilot various fund types and strategies, from closed-ended to evergreen funds across private equity, real estate, and crypto. And the challenge didn’t stop there: the solution also had to accommodate varying AML/KYC regulations by investor type and navigate diverse requirements across jurisdictions.
The Solution - Leveraging Anduin’s Investor Data Management (IDM) to Improve Efficiency and Workflow
From day one, Anduin took a hands-on approach to tailoring its solutions to Neuberger’s diverse fund structures.
Anduin’s bespoke digital approach for Neuberger included:
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Testing the waters: piloting eight closed-ended forms to establish key data points.
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Building best practices: expanding to eight more forms, introducing a data standard for holistic reusability across workflows.
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Scaling for growth: supporting open-ended funds, enhanced LP transfers, and handling high data volumes with a macro-level operational view.
Like many firms of its size, Neuberger manages dozens of fundraises annually, each requiring input from multiple legal counsels. They also dealt with a tangled web of subscription documents that vary in complexity, language, and format.
Anduin’s resident legal experts delivered much-needed consistency for Neuberger. The team worked closely with Neuberger to develop what is later referred to as the “Omnibus Version” and applied it across all funds, delivering a consistent LP experience and saving hundreds of hours of work.
Neuberger then leveraged Anduin’s Investor Data Management (IDM) to allow investors to create reusable profiles, eliminating the need to re-enter the same information for every subscription. Internally, integrating IDM with platforms like Salesforce also improved the process of initiating and tracking subscription documents, helping reduce duplicative effort and improve cross-team coordination.
We wanted a partner with whom we could share ideas, have input on development, and actively participate in testing and experimentation. It's been fantastic, and I believe we can all agree that together, we've truly pushed the team to advance the platform.
Christa Teevan | SVP Client Services
The Success - $5.4 Billion Raised with Anduin
The Anduin solution started with the Investor Relations side of the house, but it wasn’t long before other teams came on board. Review teams appreciated having everything they needed readily accessible on the Fund Subscription's Master Dashboard. Even initially skeptical Fund Counsels were won over when they saw how much Anduin reduced client re-signings.
The Anduin platform enabled seamless, high-impact investor onboarding for Neuberger:
- Nearly 3,000 LPs onboarded through Anduin
- 90% of invited investors initiated the subscription process
- 78% completed the process within days
- Supported over $5.4 billion raised on the platform
Neuberger’s journey with Anduin has been one of growth, discovery, and meaningful changes. It was made possible because of the vision from the outset: Neuberger knew they needed more than just a software provider—they needed a partner capable of evolving with them.
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