• Ex-managers buy Lehman property funds

The former managers of Lehman Brothers’ real estate funds have bought the business from the bankrupt bank.

Bloomberg reported that Brett Bossung and Mark Newman, who managed the funds before Lehman’s bankruptcy, acquired three private funds – Lehman Brothers Real Estate Partners I, II and III, with combined capital commitments of around $5.6 billion (£3.8 billion) – for an undisclosed price.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aYP5psJ85uNI

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