Man Plans U.S. IPO

The push for alternative asset managers seeking to sell shares to mom and pops continues on both sides of the Atlantic.

Hedge fund The Man Group is planning to launch an initial public offering of one of its funds and a brokerage arm on the New York Stock Exchange (NYSE Quote), while Lehman Brothers (LEH Quote) is said to be aiming to take public its private equity across the pond in the U.K.

The IPO initiatives are being announced as more hedge funds and private-equity shops, including Blackstone Group, which is planning its own $4.75 billion offering, consider drawing public funds to help retain talent and as a means of further rewarding founding partners. ...