Kennedy Lewis, Overseeing $14 Billion, Said to Explore Sale (1)

Kennedy Lewis Investment Management, an alternative-credit manager with about $14 billion under management, is exploring strategic options including an outright sale, according to people with knowledge of the matter.

The firm, co-founded by David Cheneand Darren Richman, is working with an adviser to solicit interest from potential suitors, said the people, who asked not to be identified discussing confidential information. No specific deal has been decided upon.

The firm may be valued at more than $800 million in an outright transaction, one of the people said.

A Kennedy Lewis spokesman declined to comment.

The firm, led by ...