Lehman’s Neuberger Sales Hits a Snag
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Lehman Brothers Holdings Inc.’s plan to sell its investment-management division has been held up by wrangling over how to run the business and pay fund managers, according to three people familiar with the talks.
The bankrupt securities firm had aimed to announce the sale to Bain Capital LLC and Hellman & Friedman LLC by last week, said the people, who declined to be named because the negotiations with the buyout firms are private. Sticking points include the new company’s management structure, compensation at the Neuberger Berman fund unit and valuing Lehman’s private- equity assets. Lehman is working to close the deal this week.
