Lehman Brothers establishes new investment group

It has been reported that Lehman Brothers is to establish a third-party fund investment group, which will consolidate the group’s fund investing activities and build its private equity franchise. It is believed that the new investment group will develop a fund-of-funds product targeting investors, who only want limited exposure to private equity and, therefore, cannot access top-tier funds directly. It is understood that Lehman Brothers will pool the capital from a number of co-investors in order to meet the minimum investment levels of the top funds. According to published sources, the group will invest in LBO, venture capital, mezzanine and distressed debt funds as well as buying secondary limited partnership interests. It will also act as a partner in forming private equity funds and manage co-investment programmes on behalf of institutional investors. It has also been reported that the firm will invest in funds across Europe and the US, without any specific regional allocation.

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