Neuberger Berman managers have bid for and won the right to buy the asset management business in a court-supervised sale, a source confirmed with Investment Dealers Digest.
In September,
Lehman has more than 100,000 creditors. Its assets totaled $639 billion and liabilities totaled $613 billion when it filed for court protection.
A price for the purchase was not immediately available and the sale will have to be approved by the judge overseeing the case. A hearing for the sale is expected later this month.