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Lehman Out for $1.5B Secondary Fund

Lehman Brothers is seeking to raise $1.5 billion for Lehman Brothers Secondary Opportunities Fund II LP, LBO Wire reported, citing two people familiar with the fund. Lehman Brothers Secondary Opportunities Fund LP is earmarked primarily for investments in buyout funds. One known investment is an American Capital Strategies fund consisting of both funded and unfunded deals. www.lehman.com