Neuberger Berman Plans Listing for Distressed Debt Fund

LONDON (Reuters) – Asset manager Neuberger Berman, which once belonged to failed investment bank Lehman Brothers, plans a London listing for its first fund dedicated to distressed debt, according to the Financial Times.The privately held company is looking to raise more than $150 million dollars from the listing that could take place in the next few months, the paper reported on Monday, citing people familiar with the matter.

The money management firm rose from the Lehman Brothers wreckage, following an employee-led buyout last year and oversees $158 billion dollars in assets.

(Reporting by Caroline Copley; Editing by Valerie Lee)