Neuberger Berman Takes Stake in Ryan at $7 Billion Valuation (1)

Neuberger Berman is buying a minority stake in tax advisory and software provider Ryan LLC.

The firm is making the investment through its Neuberger Berman Capital Solutions and Neuberger Berman Private Markets units, according to a statement Wednesday that confirmed a Bloomberg News report. Financial details weren’t disclosed.

Neuberger is investing up to $1.2 billion in Ryan, valuing the company at about $7 billion, people familiar with the matter said, asking not to be identified discussing confidential information.

Neuberger will become a shareholder in Ryan alongside Onex Partners — part of Onex Corp. — and Ares Management Corp. ...