Other private equity groups understood to be considering the purchase of
Neuberger Berman, the successful fund management business acquired by Lehman
four years ago, include Blackstone and TPG, The Times reports.
Dick Fuld, Lehman Brothers chairman and chief executive, is considering a
range of options for Lehman’s future, including the sale of Neuberger or the
disposal of a stake in the entire bank.
Neither Lehman nor Wall Street believes a sale of the entire bank is an
option because of the question mark over the way the bank’s assets should be
valued and the lack of buyers prepared to take on such a substantial business.