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Lehman Brothers Private Equity Partners Limited 6 June 2008
Lehman Brothers Private Equity Partners Limited ("LBPE" or "the Company"), a closed-end private equity fund of funds investment company, today announced an updated valuation of its Net Asset Value ("NAV").
As of 31 May 2008, the unaudited NAV per share was $10.74. This represents an increase of 1.9% compared to the unaudited 30 April 2008 NAV per share of $10.53 and an increase of 3.5% compared to the audited 31 December 2007 NAV per share of $10.37.
LBPE's portfolio value increased during May principally due to net unrealized appreciation in the value of certain direct co-investments in the power and energy services sectors. The portfolio also benefited from net unrealized appreciation in the value of fund investments as well as positive mark-to-market adjustments on credit-related investments and publicly traded equity securities that LBPE is exposed to through funds and co-investments. These increases in value were offset primarily by negative foreign exchange adjustments, an increase in the Company's deferred tax liabilities and an accrual for carried interest.
LBPE also expects to provide regular NAV updates for the months ending 30 June 2008 and 31 July 2008 within seven business days of each month's end.
A breakdown of LBPE's NAV can be obtained in the monthly report for the period ending 31 May 2008, which is published on the Company's Web site at www.lbpe.com. The monthly report should be read in conjunction with this announcement.
For further information, please contact:
Lehman Brothers +44 207 102 3424 Jeremy Apfel
Financial Dynamics +44 207 269 7114 Rob Bailhache Nick Henderson
