BusinessCompany NewsKKR favourite in bid for Lehman Bros

KKR favourite in bid for Lehman Bros

Private equity firm KKR is frontrunner in the bidding for investment banker Lehman Brothers' assets

The private equity group
Kohlberg Kravis Roberts
(KKR), has emerged as favourite in the bidding for investment banker
Lehman Brothers’ asset
management business.

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.

Further reading:

Erin Callan: back on the block

Credit Suisse takes on Lehman’s ousted CFO

Read
The Times story

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