Lehman PE Changes Name, Reveals Write-Downs
In an attempt to distance itself from its fallen parent company, Lehman Brothers Private Equity Partners Limited changed its name to NB Partners Limited. Meanwhile, the remnants of that failed parent company will continue to hold shares in NB Partners for a lock-up period that expires July 18 2010. At that point, NB Partners will assist Lehman Brothers in selling its 14.5 million shares in secondary transactions. In a conference call this morning, the firm’s leaders spelled out the firm’s write-downs to date, and bemoaned the company’s share price, a 79.2% discount to NAV. I’ve posted some highlights below, along with slides from the investor presentation.
13 March 2009•2 mins read
