Remember Neuberger Berman? Lehman Brothers’ asset management unit whose sale was rumoured before trouble at its parent firm was reported? It’s still for sale. And now the Carlyle Group, Silver Lake, TPG and Blackstone has joined Bain and Hellman & Friedman in bidding for the unit. What, KKR’s not interested?
NY Post: Challengers to Bain Capital and Hellman & Friedman’s $2.1 billion joint offer for Neuberger Berman are emerging as a court-supervised auction for the asset management firm gets underway.
Sources tell The Post that prospective bidders for Neuberger include Carlyle Group, Silver Lake, TPG and Blackstone Group, as well as strategic players such as Boston-based asset manager State Street.
Offers for Neuberger are expected to be as high as $3 billion, one banker following the auction said.
Carlyle was an original bidder for the coveted asset management firm, but opted out of the sale being run by a then-teetering owner Lehman Brothers because it didn’t have sufficient time to vet the business.
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