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Lehman Doubles Down On Its Former Head Of Real Estate

Lehman simply can't quit Mark Walsh. Even though the former head global head of real estate helped bring down the firm through a series of ruinous transactions, Lehman's estate selected a group headed by Walsh and several of his colleagues to manage the real estate focused PE arm he previously oversaw, Lehman Brothers Real Estate Partners. Adding credibility to this decision is the Federal investigation into whether or not Walsh's team improperly valued Lehman's CRE holdings to bolster the firm's sheet and a civil suit on behalf of New Jersey pension funds claiming Walsh and his team defrauded them by misrepresenting Lehman's real estate portfolio.
Lehman Property Boss Returns [WSJ]