Carlyle said to eye Lehman’s investment unit

The Carlyle Group of Washington is expected to make a bid for Lehman Brothers Holdings Inc.'s investment management division, a source familiar with the matter told Reuters.

The Carlyle Group of Washington is expected to make a bid for Lehman Brothers Holdings Inc.’s investment management division, a source familiar with the matter told Reuters.
The Blackstone Group LP of New York, Silver Lake Partners LP of Menlo Park, Calif., and TPG Capital of Fort Worth, Texas, have all shown interest in the division but haven’t submitted formal bids.
Last month, Bain Capital LLC of Boston and Hellman & Friedman LLC of San Francisco made a $2.15 billion bid, winning them the right to place the lead bid on the division at an auction in December.
Bain Capital and Hellman & Friedman will receive a $52.5 million break-up fee if they don’t win the auction.
Lehman Brothers, which used to be the fourth-largest investment bank in the country, filed for Chapter 11 bankruptcy protection on Sept. 15 and is in the process of selling off its businesses.