(Reuters) -
Lehman Brothers (LEH.N) 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.

Kohlberg Kravis Roberts, Hellman & Friedman and Bain
Capital have been told by Lehman that their bids are high
enough to go forward, the paper said citing people familiar to
the matter.

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)

Source

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