Seeking Alpha

Affiliated Managers reportedly bidding for stake in D.E. Shaw

  • Affiliated Managers' (AMG) bid for a 20% stake D.E. Shaw would value the hedge-fund giant at more than $2B, reports the WSJ. The holding is up for sale by the estate of Lehman Brothers (Lehman paid between $750M-$800M  in 2007).
  • D.E. Shaw manages about $32B and is known for its quantitative strategies.
  • AMG was one of six invited to bid on the asset, and others invited include Blackstone and KKR, but some are finding the terms limited as Lehman's original agreement allowed it a share of profits, but not much say in the business' direction or management.
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