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About
Andrew Berger is a seasoned investment professional who most recently served as a Portfolio Manager at LMR Partners, based in New York, NY. At LMR, Berger managed strategies focused on highly levered trades in U.S. residential mortgage-backed securities (MBS), overseeing risk and allocation within securitized products and fixed income markets. His tenure was marked by both significant gains—reportedly generating nearly $250 million in profits during 2024—and, later, a high-profile reversal in 2025 tied to rate volatility and bond supply shocks.
Prior to LMR Partners, Berger held the role of Director of Agency MBS Trading at Credit Suisse, where he specialized in trading specified pools and broader agency MBS products, and earlier served as a Portfolio Manager at BlueCrest Capital Management. His experience also includes roles at Goldman Sachs (Vice President, Agency MBS Trading) and Pteron Group, further building deep expertise in the agency and non-agency mortgage sectors.
Berger holds a Bachelor of Science in Finance and Accounting from New York University’s Leonard N. Stern School of Business. Widely recognized within the industry for his rigorous analytical approach, he made notable contributions to risk framework development in fixed income, and was known as a rising star in the niche world of mortgage-backed securities trading.
Career History
| Organization | Role | Date Range | Details |
|---|---|---|---|
| LMR Partners | Portfolio Manager | Jan 2022 to Present | — |
| Credit Suisse | Director-Agency MBS Trading | Apr 2019 to Jan 2022 | — |
| BlueCrest Capital Management | Portfolio Manager | Apr 2018 to Nov 2018 | — |
| Goldman Sachs | Vice President Agency MBS Trading | Jul 2012 to Mar 2018 | — |
| Goldman Sachs | Summer Analyst | Jun 2011 to Aug 2011 | Rotated on Investment Grade Credit Trading, Interest Rate Products Trading and ETF Trading |
| Fortress Investment Group | Summer Analyst | Jun 2010 to Aug 2010 | •Analyzed daily reports on technical and fundamental market data and outlook
•Winded, rolled and created over $450 million in trades for currency hedging
•Composed daily reports on cash liquidity
•Re... |
| Pteron Group Incorporated | Portfolio Manager | Feb 2010 to Oct 2011 | •In charge of analyzing positions to set target and stop-loss prices using technical and fundamental analysis on current market conditions
•Hedged risk of current positions using equity derivatives
•H... |
Education
New York University - Leonard N. Stern School of Business
BS, Finance and Accounting
2008 — 2012
Skills & Expertise
Others at LMR Partners LLP (37)
| Name | Role | Location |
|---|---|---|
A Andrew Rosen | Portfolio Manager | Delray Beach, FL , United States |
 | Investment Analyst | New York, NY , United States |
B Burt Weiss | Portfolio Manager | Harrison, NY , United States |
 | Portfolio Finance Trader | New York, NY , United States |
 | Senior Portfolio Manager | New York, NY , United States |
 | Senior Analyst | New York, NY , United States |
 | Portfolio Manager: Energy, Power and Renewables | New York, NY , United States |
K Kuhn Tsai | Portfolio Manager | New York, NY , United States |
 | Head of Trading | Rye, NY , United States |
 | Associate Portfolio Manager | New York, NY , United States |
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| Name | Role | Fund | Location |
|---|---|---|---|
A Amber Fairbanks | Portfolio Manager | Impax Asset Management Group PLC | Boston, MA , United States |
D David Kinsley | Senior Portfolio Manager | Impax Asset Management Group PLC | New Canaan, CT , United States |
G George Koshy | CEO and Chief Investment Officer | Polar Capital Holdings PLC | New York, NY , United States |
