Several bidders are eyeing
American International Group's
asset management business,
The Wall Street Journal
The AIG business, which according to the report has about $100 billion under management, has drawn attention from private equity firms
Ashmore Investment Management
Hellman & Friedman
. Mutual fund managers
Franklin Templeton Investments
Southgate Alternative Investments
are also taking a look, according to the report.
AIG is scrambling to pay back some $170 billion in government money, and the buyers, aware of this, are making lowball bids of $400 million to $800 million, well below the $1 billion to $2 billion these assets would ordinarily be worth, according to the newspaper.
AIG shares were losing 2.7% to $1.07 in recent premarket trading.