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Lehman Brothers Private Equity Partners Limited 8 July 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 30 June 2008, the unaudited NAV per share was $10.77. This represents an increase of 0.3% compared to the unaudited 31 May 2008 NAV per share of $10.74 and an increase of 3.8% compared to the audited 31 December 2007 NAV per share of $10.37.
LBPE's portfolio value increased during June, principally driven by net unrealized appreciation in the value of a direct co-investment in the energy services sector. In addition, the portfolio benefited from positive foreign exchange adjustments and net unrealized appreciation in the value of fund investments. These increases in value were partially offset by mark-to-market adjustments on publicly traded equity securities and credit-related investments as well as an increase in the Company's deferred tax liabilities and other accrued expenses.
LBPE expects to issue its interim report and financial statements for the quarter ended 30 June 2008 and host its next investor conference call during the week of 11 August 2008. The Company is required to consider, and will consider, all known material information in preparing such financial statements, including information that may become known subsequent to the issuance of this monthly NAV update. Accordingly, amounts included in the financial statements may differ from the amounts published in the monthly report.
LBPE expects to provide a NAV update for the month ending 31 July 2008 concurrent with the release of the interim financial report. In addition, the Company expects to provide a regular NAV update for the month ending 31 August 2008 within seven business days of month's end.
A breakdown of LBPE's NAV can be obtained in the monthly report for the period ending 30 June 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
About Lehman Brothers Private Equity Partners LBPE is a closed-end private equity fund of funds investment company listed on Euronext Amsterdam on 25 July 2007, raising a total of $542.1 million. The proceeds of the IPO are in the process of being committed to a diversified portfolio of private equity fund investments and certain direct co-investments, diversified across private equity asset class, geography, industry, vintage year and sponsor, selected by Lehman Brothers' Private Equity business.
About Lehman Brothers Private Equity Lehman Brothers' global Private Equity business, founded in 1984, currently oversees approximately $35 billion across 38 different fund strategies and seven asset classes: Merchant Banking, Venture Capital, Real Estate, Credit, Infrastructure, the Strategic Partners Group, and Fund Related Investments, which includes fund of private equity funds, fund of hedge funds, and the Manager Research and Selection Business.
About Lehman Brothers Lehman Brothers, an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high net worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity. The Firm is headquartered in New York, with regional headquarters in London and Tokyo, and operates in a network of offices around the world. For further information about Lehman Brothers' services, products and recruitment opportunities, visit www.lehman.com.
This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.
