Lehman Raises $3.3B Private Equity Fund

Jun 11 2007 | 9:08am ET

Lehman Brothers has raised approximately $3.3 billion for Lehman Brothers Merchant Banking Partners IV, a global fund focused on control and significant minority stakes in small- to mid-cap companies. The fund includes approximately €920 million ($1.2 billion) dedicated to investments in Europe.

Fund IV seeks to invest in companies in the United States, Europe and Asia “with strong fundamentals, favorable growth prospects and positive cash flow.” 

“European and Middle Eastern investors account for approximately one-third of the total capital of Fund IV, which reflects the increased importance of European private equity deals within our global platform,” says Vittorio Pignatti Morano, vice chairman and head of European Private Equity for Lehman Brothers.

The new fund, which includes $500 million from Lehman Brothers and its employees, is the latest in a series of private equity funds the firm has been raising and brings total p.e. funds now under management to approximately $18 billion.

Lehman Brothers’ Private Equity business consists of 16 different fund strategies across six asset classes: merchant banking, venture capital, real estate, fund-of funds, credit and infrastructure.

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