Posted on
Tuesday 30 September 2008
After selling off $1.75bn (£970m) in assets to Barclays, bankrupt giant Lehman Brothers is to sell much of its money management business, including its asset management unit, Neuberger Berman, to Bain Capital and Hellman & Friedman for about $2.15bn (£1.19bn) in cash, reports The American Lawyer.
The Neuberger business is among the biggest outstanding issues for Lehman. Weil Gotshal & Manges, Lehman's bankruptcy counsel, is handling the deal on Lehman's end.
A twelve-partner team from
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