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Perella Weinberg joins bidding group for AIG unit

Posted on July 16, 2009 2:00 AM
Negotiations between American International Group Inc. and a bidding consortium looking to buy the insurer's asset management arm are continuing, despite the loss of Franklin Templeton Investments last week as the lead bidder.

According to sources, Perella Weinberg Partners LP, the New York-based investment bank and asset management firm, has joined the bidding group, which is being led by private equity shop Crestview Partners LP and Hong Kong investor Richard Li.

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