KKR emerges as favorite to bid for Lehman's Neuberger Berman

08/27/2008 | Times (London) (subscription required), The

Lehman Brothers Chairman and CEO Dick Fuld wants to quickly complete a sale of Neuberger Berman, the bank's lucrative fund-management business. Private-equity firm KKR has emerged as the most likely buyer. Blackstone Group and TPG, both also private-equity groups, are thought to be considering a bid for the unit as well.

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