An asset management firm spun off from Lehman Brothers is in discussions with a large Nordic pension scheme about investing in its unconventional fund products, which offer an alternative to benchmark-linked funds, after finalising its separation with the collapsed US bank.

TOBAM, which was born out of the former Lehman Brothers Asset Management France, has retained the legacy company's 16 staff and, as of Thursday last week, stands independent from the US parent which financially supported its creation in two years ago.