Man Group Takes On Lehman Exposure For $355M

Law360, New York (July 18, 2011, 10:43 PM EDT) -- British investment firm Man Group PLC will take on exposure to the estates of bankrupt investment bank Lehman Brothers Holdings Inc. from funds managed by its subsidiary GLG Partners LP for $355 million, according to a company announcement Monday.

Man Group says that with the cash payment, it will acquire all of the residual exposure to the Lehman estates and will bear the risk of any change to the net asset value of the claims.

"These transactions will remove the remaining uncertainty from funds with residual...
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