Man Group sells Lehman estates exposure for $456 mln

LONDON Fri Nov 16, 2012 2:55am EST

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LONDON Nov 16 (Reuters) - Hedge fund manager Man Group on Friday said it had agreed to sell its Lehman estates exposure to Hutchinson Investors for $456 million.

Man Group, which has owned the claims since July 2011, said the Lehman claims were valued at $346 million on June 30, 2012.