Neuberger Berman Private Markets related stories
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Former Morley chief to advise PermiraKeith Jones is now a senior advisor for Permira’s financial services team, which is led by James Fraser and will increasingly look to target wealth management assets in play.
- Lehman buyout arm to spin out
Lehman Brothers Merchant Banking will partially spin out as an independent firm, while the failed bank will retain ownership of a portion of the funds. Limited partners in Lehman’s most recent buyout fund have been given the option to reduce unfunded commitments by 25%.
- LPs gear up for Lehman asset sell-off
LPs in Lehman's private equity funds have retained Kirkland & Ellis and private equity advisor StepStone to guide them through the auction of Lehman's venture and private equity funds. The bank hopes to close deals in the first quarter of 2009.
- Lehman, IBM dissolve $180m Asian joint venture
The joint venture to provide growth capital to Chinese companies was created in 2006 with commitments of $90m each from Lehman Brothers and International Business Machines.
- Carlyle declines to bid for Neuberger
The global buyout firm had objected to the $2.15bn bid submitted by Bain Capital and Hellman & Friedman and said the bankruptcy auction process was driving away alternative bidders.
- Lehman group wins Neuberger auction
A management group from Lehman Brothers beat out a $2.15bn bid from Bain Capital and Hellman & Friedman for the bank's investment management division, which includes infrastructure and some private equity businesses.
- Carlyle says $2bn Neuberger bid too low
The Washington, DC-based firm wants to outbid Bain and Hellman & Friedman for Lehman’s investment management unit, but has said provisions in the sales agreement including a $110m break-up fee will have a chilling effect on additional bidders.
- Lehman Brothers Real Estate not part of Neuberger deal
Lehman's private equity real estate arm is not part of the $2.1bn deal by Bain Capital and Hellman & Friedman to acquire the investment bank's prized asset management business, Neuberger Berman. Lehman's private equity funds of funds and secondaries units will be sold.
- Lehman’s $30bn PE and RE portfolio still up for grabs
As British bank Barclays snaps up Lehman’s core investment banking businesses, the fate of the bankrupt bank’s investment management division including its private equity and real estate portfolio has yet to be sealed.
- Judge approves auction for Lehman's investment management division
The auction for Lehman's Neuberger Berman and units including private equity fund of funds and secondaries, as well as infrastructure, will proceed despite objections from Carlyle over a $2.15bn bid from Bain and Hellman & Friedman.