Fidelity, Bank of New York Mellon and State Street Corp. are reportedly among the firms eyeing Insight Investment Management, the third-party asset management arm of Britain's Lloyds Banking Group. Bids are likely to come in between $150 million to 300 million pounds ($245 million to $491 million), Reuters reports.

Earlier, BNY Mellon's name surfaced as the other main bidder for Barclays Global Investors, which is now in the process of being acquired by BlackRock.

In the Insight Investment Management auction, other potential suitors include Commonwealth Bank of Australia, Schroders, and private equity firms Hellman & Friedman and Advent International.  

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