Lehman managers eye $9bn private equity buy-out

Senior managers of Lehman Brothers' $9 bn global property private equity business are mulling a management buyout, according to an article in the UK real estate magazine Property Week. The paper reported that the senior team at Lehman Brothers Real Estate Private Equity is seeking to take control of the business as a part of the break-up of the collapsed investment bank. Lehman Brothers' private equity arm manages three opportunity funds and two mezzanine funds totalling $9bn.