Top execs at Neuberger Berman
will see retention bonuses of $400 million when the sale of the Lehman Brothers
unit to Bain Capital LLC
and Hellman & Friedman LLC
is complete. Bloomberg
reports that court filings from Lehman's bankruptcy reveal that Lehman employees and portfolio managers will get 16.8 percent of the equity in the purchased assets. The value of the purchased assets is $2.15 billion.
Neuberger's employees are one of the most valuable parts of the firm. To get its money's worth out of the purchase, Bain and Hellman & Friedman had no choice but to offer a retention package.
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