Report: Lehman may create buyer for mortgage assets

If you can't find a buyer for something, why not create one? That's what Lehman Brothers Inc. is considering doing for its seemingly untouchable mortgage assets. Bloomberg reports Tuesday that the New York investment bank may organize a company funded by outside investors to buy depreciating mortgage assets, specifically those linked to commercial real estate.

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Lehman may also provide some of the equity for the new company so that it can benefit if asset prices recover, people familiar with the talks told Bloomberg. The potential move is just one of several the beleaguered bank is considering to insure its survival. Lehman is also considering the sale of its asset manager Neuberger Berman LLC, and there have been rumors that CEO Richard Fuld's days at the helm are numbered. - Gerald Magpily

See Bloomberg article
See Dealscape: KKR in lead for Lehman Brothers' asset management unit
See Dealscape: Rabble Babble: Lehman Brothers rumors and reports

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