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Rating:Neuberger Execs Get a Peek at the Retention Package Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 07, 2008

Neuberger Execs Get a Peek at the Retention Package

by: Erin Kello

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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