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Rating:Private Equity Aside, Who Else Might be Coveting Neuberger? Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 12, 2008

Private Equity Aside, Who Else Might be Coveting Neuberger?

by: Armie Margaret Lee

Names of private equity firms have been tossed around these past weeks as bidders for Lehman Brothers' investment management business, of which Neuberger Berman is a part. Fund industry consultant Burt Greenwald on Thursday shared his thoughts with Dow Jones' Daisy Maxey on who else might be interested.

Greenwald thinks Goldman Sachs is an obvious candidate, pointing out that it has made aggressive moves to bolster its mutual fund and broader asset management business. Another possible buyer for the stake is Putnam Investments, whose infrastructure, according to Greenwald, can support two or three times its current mutual fund AUM.

At the end of August, Lehman's investment management business had AUM of $273 billion. Of that number, approximately $230 billion is managed by the asset management group, around half of which is managed by Neuberger.

Final bids for a 55-percent stake in a chunk of Lehman's investment management business are reportedly due on Friday. 

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