Lehman to float private equity IPO

Lehman Brothers plans to raise $500 million for a fund that invests in private equity companies, according to published reports.
JUN 20, 2007
By  Bloomberg
Lehman Brothers plans to raise $500 million for a fund that invests in private equity companies, according to published reports. The new company, Lehman Brothers Private Equity Partners Ltd., will be floated on Euronext in Amsterdam, with conditional dealings expected to begin on July 18 and unconditional dealings to begin July 25. The new company plans to issue a single class of U.S.-dollar-denominated shares at $10 each, with the parent company subscribing to purchase $100 million of shares, which will be subject to a three-year lock-up. The portfolio of stakes in private equity funds and direct investment in companies will be picked out by Lehman Brothers Private Fund Investments Group. It’s been a big year for public offerings of alternative investment vehicles. Most prominently, hedge fund Fortress Investment Group LLC was floated on the New York Stock Exchange in February (InvestmentNews, February 9) . The Blackstone Group LP, a New York-based private equity company, announced yesterday that it will move its initial public offering up to tomorrow (InvestmentNews, June 19) . Lehman's private fund investments group manages $6.5 billion and has generated an internal rate of return of 18.1% net of fees and expenses since 1987, according to published reports.

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound