Lehman Brothers is making calls to assess who would be interested in buying all or part of its asset management business, valued between $8 billion and $10 billion, according to sources familiar with the situation.
Sources who asked not to be identified said the business has not officially been put up for sale, and the suggested sale price was viewed as aggressive given current financial market conditions.
Lehman Brothers spokesman Mark Lane declined to comment on the fate of Lehman’s Neuberger Berman asset management unit as well as the status of hedge fund managers D.E. Shaw and GLG Partners or Lehman’s private equity fund.
