Lehman Brothers creates PE advisory board

Seven senior advisors from seven European countries have been appointed to the newly-formed Lehman Brothers Merchant Banking European Advisory Council.

Lehman Brothers, the global banking group, has created an advisory council to increase deal sourcing opportunities and assist with due diligence.

The council will comprise the following members: Lord Baker, former Conservative MP until 1997 (chairman); Eric van Amerongen, former CEO of Lucent Technologies in Europe; Rodolfo Bogni, former chief executive of UBS Private Banking; Emilio Novela, former chief executive of Vallehermoso; Lorenzo Pellicoli, former CEO of Seat Pagine Gialle; Dieter Pommerening, chairman of Nobileview and Oncoscience; and Heinz Sundt, CEO of Telekom Austria.

The advisory council will work closely with the European Merchant Banking Group and is expected to meet several times a year to discuss existing investments and opportunities for future deals.

Commenting on the new council, global head of merchant banking, Charles Ayres commented: “The expertise of each council member is impressive in its own right, in combination the council can draw on an extraordinary wealth of transaction and industry knowledge. We are proud to be associated with them.”

The Merchant Banking Group is responsible for investing Lehman Brothers’ and third party capital in private equity transactions. The group focuses on mid-market buyouts in Western Europe and the US.

In May, Lehman Brothers announced the appointment of Javier Banon as a managing director and co-head of the European Merchant Banking Group, alongside Joe Cohen.

In the last six months, the group has made investments in home care company Phoenix Brands and Hunter Fan, a designer and manufacturer of ceiling fans.

The group is currently investing Lehman Brothers Merchant Banking Partners II LP, a $2 billion institutional private equity fund closed in 1997.

Also in May, Lehman Brothers announced the final closing of its debut mezzanine fund dedicated to Europe, Lehman Brothers European Mezzanine Fund 2003 on €750 million.