According to CNBC, the
buyout shop has "expressed a high level of interest" in buying the
unit's crown jewel, money management firm Neuberger & Berman. KKR peers JC Flowers & Co. LLC, Apollo Management and
the Carlyle Group also may be interested in Neuberger because it is
one of the premier money management firms in the business.
Although eager to raise cash, Lehman may be trying to drive a hard
bargain for its asset management business. CNBC reports that potential
buyers have been balking at the investment banks terms -- sale of a 70%
stake for about $7 billion with an option to buy back the rest at a
later date. -
George White
See CNBC story
See Dealscape post on Lehman Brothers
