Lehman Brothers hopes to announce a sale of a majority stake in a chunk of its investment management business, including Neuberger Berman, next month, with the bids due on Friday, Reuters reports.

In the Wall Street Journal's Deal Journal blog, Heidi Moore lists some banks that are expected to provide financing for private-equity bidders. These banks include Goldman Sachs Group, J.P. Morgan Chase, Credit Suisse Group and Bank of America.

President Bush's second cousin George Walker, currently at the helm of the investment management unit, is expected to spearhead the new company, Moore writes.

Private equity firms said to be in the running include Kohlberg Kravis Roberts, Hellman & Friedman and Bain Capital (see The MFWire, September 4, 2008). 

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