Lincoln to Sell Asset Management Unit

April 21, 2009 ( - U.S. life insurer Lincoln National Corp. is selling its Delaware Investments asset management unit, sources familiar with the matter told Reuters.

According to the sources, bids are expected in the next couple of weeks, and the Philadelphia-based firm is expected to attract interest from both private equity and strategic buyers.

The sale of Delaware Investments, which had more than $115 billion in assets under management as of December 31, is being handled by Goldman Sachs, the sources said, according to Reuters.

Lincoln was not immediately available to talk to the news service, while Goldman declined to comment.