New Lehman sell-off hands lead roles to US trio
Just days after Lehman Brothers sold off $1.75bn (£950m) in assets to Barclays, the bankrupt giant is in talks to sell its investment-management unit to private equity firms Bain Capital and Hellman & Friedman, according to sources familiar with the deal. A lawyer familiar with the deal says Weil Gotshal & Manges, Lehman's bankruptcy counsel, is handling the deal for Lehman. The source says Ropes & Gray is representing Bain, a longtime Ropes client.
September 22, 2008 at 10:35 AM
2 minute read
Just days after Lehman Brothers sold off $1.75bn (£950m) in assets to Barclays, the bankrupt giant is in talks to sell its investment-management unit to private equity firms Bain Capital and Hellman & Friedman, according to sources familiar with the deal.
A lawyer familiar with the deal says Weil Gotshal & Manges, Lehman's bankruptcy counsel, is handling the deal for Lehman. The source says Ropes & Gray is representing Bain, a longtime Ropes client.
Ropes has represented Bain in several recent deals, including its $11bn (£6bn) acquisition – as part of a consortium of firms – of data systems company SunGard in 2005, with Ropes partner Alfred Rose advised on most of the Bain deals.
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