Lehman Brothers Private Equity Partners, a closed-end private equity fund of funds investment company, has announced that at 31 December its un-audited net asset value per share was USD
Lehman Brothers Private Equity Partners, a closed-end private equity fund of funds investment company, has announced that at 31 December its un-audited net asset value per share was USD9.41, representing an increase of 1.5 per cent from the 30 November figure of USD9.27.
During December, LBPE’s portfolio value increased as a result of positive foreign exchange adjustments and appreciation in the unrealized value of publicly traded equity securities.
These increases in value were offset by unrealized depreciation in the mark-to-market value of credit related fund investments and write-downs in the value of certain fund investments and co-investments.
In addition, the net effect of share repurchases through the company’s Liquidity Enhancement Agreement contributed approximately USD0.13 to LBPE’s net asset value per share during December. A total of 881,264 shares were repurchased during the month at an average price per share of approximately USD1.51.
The value of LBPE’s private equity portfolio is based on valuation information collected by the private fund investments group of Neuberger Investment Management as of 12 January 2009.
