Man Group is attempting to acquire all the residual exposure to the Lehman estates from GLG managed funds.
Man Group acquired GLG Partners in a deal worth £1.1 billion in May 2010.
The group is aiming to acquire the estates at current net asset value, taking the total consideration for the transactions to $355m (£220m) which will be payable in cash. Man Group will then be liable for any change to the net asset value of the claims.
In a statement, Man Group confirmed the regulatory capital impact of the transactions is expected to be around $50m and will have a “negligible impact on Man’s net interest expense.”
Peter Clarke, chief executive of Man, says: “These transactions will remove the remaining uncertainty from funds with residual claims against the Lehman estates, to the benefit of both existing and new investors.”