Lehman to Raise $3 Billion in Hf Manager Stakes

Summary

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NEW YORK (HedgeWorld.com) - Lehman Brothers Holdings Inc. is planning to raise approximately $3 billion this spring in a new fund that will make passive and direct investments in hedge fund managers.

The Financial Times first reported the information, saying the fund would be $5 billion in size, with $1 billion coming from the bank's seed capital. But a person familiar with Lehman said the launch is more likely to be in the $3 billion ballpark with "significantly less" than $1 billion in inside capital.

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Extract

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Lehman to Raise $3 Billion in Hf Manager Stakes

The fund, which will be run out of New York and London, will do what Lehman has been doing consistently over the past year and a half under the control o...

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