Evercore hires Mark Hanson from Barclays for healthcare group

Evercore has hired Mark Hanson as a senior managing director in the healthcare group. Hanson, who will be based in the New York office, was most recently a managing director of investment banking in the healthcare group at Barclays since 2008, when Barclays bought the U.S. businesses of Lehman Brothers.


Dyal Capital, PE Fund Buying Hedge Firm Stakes, Tops Target

In 2010, Neuberger Berman, the big money manager spun out from the now-bankrupt Lehman Brothers, took a big gamble when it launched a new type of fund that would blur the lines between private equity and hedge funds by purchasing minority stakes in high performing hedge fund managers. More than two years later, the verdict is in…

Reuters – Texas Teachers’ Fund to Buy Stake in Formula One

The $100 billion Teacher Retirement System of Texas is to buy a stake in Formula One racing from the estate of collapsed investment bank Lehman Brothers, writes Reuters. The pension fund will buy a three percent stake in the motor racing business from the Lehman Brothers’ estate in a deal worth about $200 million, writes Reuters. This follows a string of powerful investors that have bought into Formula 1 as owner CVC gradually reduces its stake.

Japanese PE Funds Cut Back

Japan’s Unison Capital cut the size of one of the largest private equity funds in Japan by around a quarter to 107 billion yen ($1.4 billion) in October due to limited opportunities for new deals, wrote Reuters. Some private equity firms have scaled back their operations in Japan in the aftermath of the financial crisis […]


Neuberger’s Dyal Fund Blurs Line Between PE and Hedge Funds

The boundaries keep getting blurred between private equity funds and hedge funds, as one of the world’s largest money managers, Neuberger Berman, has raised most of its $1 billion target for its new Dyal Capital Partners private equity fund, which plans to take minority stakes in prominent hedge fund firms.

According to a person familiar with the fund, Dyal so far has raised more than $600 million toward its goal. Dyal began raising money in July 2010, and there is a good possibility that the fund will be able to close by the end of 2011, the person said.

Scoop: Providence Equity COO Gary Weinstein Is Out–UPDATED

Providence Equity Partners’ chief operating officer is no longer with the LBO shop, less than three years into his new role, peHUB has learned. UPDATE: “We appreciate Gary’s contributions to the firm over the last three years, and we wish him well in his future endeavors,” the firm said in a statement e-mailed to peHUB. […]

Lehman Sues JPMorgan for $5 Billion

(Reuters) – Lehman Brothers Holdings Inc (LEHMQ.PK) and a group of unsecured creditors on Wednesday sued JPMorgan Chase & Co (JPM.N) for more than $5 billion, accusing the bank of siphoning billions of dollars of critically-needed assets, and hastening its bankruptcy. In a lawsuit filed in Manhattan bankruptcy court, the plaintiffs accused JPMorgan of extracting […]

Neuberger Berman Begins Raising New PE Funds

LONDON (Reuters) – Asset manager Neuberger Berman has started fundraising for new private equity funds after the completion last week of an employee-led buyout from the wreckage of former owner Lehman Brothers (LEHMQ.PK). The New York-based money management firm said on Thursday it has started raising the 19th incarnation of the Crossroads fund of funds with […]

Report: Lehman Eyes Spinoff of Remaining Assets

(Reuters) – Lehman Brothers Holdings Inc, which sent global markets into a tailspin after filing for bankruptcy in September 2008, is looking at spinning off its remaining assets, the Wall Street Journal said in an unsourced article. The assets include real-estate and private-equity holdings, the paper said, adding that the company is looking at investors […]

Two Lehman Bank Units Hit the Market

NEW YORK (Reuters) – Bankrupt Lehman Brothers Holdings Inc is auctioning a thrift and an industrial bank it owns, and the process is in the early stages, a source familiar with the matter said on Monday. The sale of Lehman Brothers Bank FSB, a Delaware-based thrift, and Woodlands Commercial Bank, a Utah industrial bank, is […]

Lehman VC Unit Spinning Off, Renamed Tenaya Capital

Lehman Brothers Venture Partners has been sold to its current management team and funds managed by HarbourVest Partners. It will be renamed Tenaya Capital. No financial terms were disclosed. The group’s most recent fund is a $365 million vehicle raised in 2007, to invest in mid-to-late-stage technology companies.

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