Lone Star Buys $2B Ex-Lehman CDO From Bundesbank

Law360, New York (April 13, 2012, 7:01 PM EDT) -- Private equity firm Lone Star Funds has agreed to purchase a former Lehman Brothers Holdings Inc. real estate loan investment vehicle worth €1.4 billion ($1.8 billion) from Deutsche Bundesbank for an undisclosed sum, the central German bank announced Friday.

The investment vehicle, a collateralized debt obligation known as Excalibur, is the largest of Lehman Brothers' remaining assets still under management by Bundesbank, which has been disposing of the insolvent firm's securities since 2008.

“With the sale of 'Excalibur,' the Bundesbank believes it is on track to...
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