The sale earlier this week of 51 percent of Neuberger Berman
to the firm's management continues to gain media attention. In Friday's Wall Street Journal
"Fund Track" column
, Diya Gullapalli provides another glimpse at how Neuberger got where it was. Gullapalli also reveals that losing bidders Bain Capital Partners
and Hellman & Friedman
get a $50 million 'breakup fee' and $17 million for expenses.
' partial sale of Neuberger came to light on Wednesday (see MFWire
, December 3, 2008), and yesterday the Journal reported that the freshly spun-off money manager will be led by George Walker
, December 4, 2008).
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