Lehman Brothers has asked three private equity firms to remain in bidding for its asset management arm even though the investment bank has yet decide on whether to sell the unit, the Financial Times reported.
Although Lehman has not reached a decision, it has been soliciting bids from private equity firms to gauge interest in its asset management arm, which includes Neuberger Berman, the fund manager, and minority stakes in several hedge funds.
Both Lehman Brothers and Kohlberg Kravis were not immediately available for comments.
(Reporting by Sweta Singh in Bangalore)