On September 29, 2008, Bain Capital and fellow private equity firm Hellman & Friedman agreed to purchase Lehman Brothers Holdings' asset management unit Neuberger Berman for $2.15 billion. With the transaction, the firms will receive Lehman's Asset Management arm and private funds investment unit, but the direct private equity businesses will remain under Lehman's control. The selloff comes approximately two weeks following Lehman's filing for Chapter 11 bankruptcy. In a statement, Bain managing director Phil Loughlin said that the purchase will bring a "......

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