Lehman Brothers Private Equity, a unit of the US investment banking group, has announced that it is considering giving investors access to its private equity investment platform through a
Lehman Brothers Private Equity, a unit of the US investment banking group, has announced that it is considering giving investors access to its private equity investment platform through a new Euronext Amsterdam-listed private equity fund of funds vehicle, which is expected to be launched later this year.
If the proposed public offering goes ahead, Lehman Brothers says it plans to align its interests closely with those of investors in the new fund by making a substantial investment in the listed vehicle.
Lehman has also announced its intention to commit the proceeds of the IPO fully to private equity investment at the launch of the fund of funds vehicle, and that it will bear all issuance costs itself. The private equity management unit has also promised it will ensure that the fees charges to the listed vehicle are competitive and mainly performance-linked.
The private equity business was established in 1984 and has assets under management totalling approximately USD18bn. It follows 16 different fund strategies through investment in six asset classes: merchant banking, venture capital, real estate, funds of funds, credit and infrastructure.
Founded in 1850, Lehman Brothers is active in equity and fixed income sales, trading and research, investment banking, private investment management and asset management as well as private equity, serving corporations, national and local governments, institutional clients and high net worth individuals. The firm is headquartered in New York, with regional headquarters in London and Tokyo and a network of offices around the world.
