Lehman Brother' Merchant Banking business jointly acquired by Reinet and current management team

PRESS RELEASE FOR IMMEDIATE RELEASE

16 APRIL 2009

LEHMAN BROTHERS’ MERCHANT BANKING BUSINESS JOINTLY ACQUIRED BY REINET AND CURRENT MANAGEMENT TEAM

Reinet Investments S.C.A., through its wholly-owned subsidiary Reinet Fund S.C.A. F.I.S., and the current management team of Lehman Brothers Holdings Inc.’s Merchant Banking business have completed the acquisition of the assets of Lehman Brothers’ Merchant Banking business. Reinet and the management team have created a new entity, which has been named Trilantic Capital Partners (‘Trilantic’). Trilantic will manage approximately $3.3 billion in portfolio assets through the two former Lehman Brothers funds – Fund III and Fund IV (‘the Funds’).

Through the transaction, which has been approved by the Funds’ limited partners, Reinet has purchased a 49% stake in Trilantic for $10 million and will take over Lehman Brothers' $230 million of un-invested limited partner commitments to Fund IV. The management team will own the remaining 51% of the partnership.

Charles Ayres, former managing director and head of global merchant banking for Lehman Brothers, will manage the new entity along with his four other partners: E. Daniel James, Joseph Cohen, Vittorio Pignatti-Morano and Javier Banon.

Johann Rupert, Executive Chairman of Reinet, said:

“Alan Quasha, principal of Quadrant Management and Vanterra Capital, played the key role in leading the transaction. Without his experience and diligence the deal would not have closed. Alan will serve on Trilantic's Investment Committee. The former Lehman Brothers franchise and closely knit team provide a strong platform with significant uncommitted capital at a time of great investment opportunities in the private equity middle market.”

About Trilantic
Trilantic Capital Partners manages funds that seek significant long-term capital appreciation through direct investments in established operating companies in partnership with management. The funds invest in companies with sound business fundamentals, proven operating teams and a compelling business strategy. Since 1986, the Trilantic management team has raised and managed four institutional funds and several employee investment vehicles, with total committed capital in excess of $8.0 billion. To date, the Global and Europe Funds IV have made investments of some $800 million in aggregate. Further commitments by limited partners to invest in the funds currently amount to some $1.7 billion.

About Reinet
Reinet Investments S.C.A. is a partnership limited by shares incorporated in the Grand Duchy of Luxembourg. Reinet Investments holds the entire ordinary share capital of Reinet Fund S.C.A. F.I.S., a specialised investment fund holding assets with a current aggregate value of some € 2 billion. The investment will be made through Reinet Fund S.C.A. F.I.S.

Reinet shares are listed on the Luxembourg Stock Exchange and Reinet South African Depository Receipts are listed in Johannesburg.

Reinet Investments Manager S.A.
for and on behalf of Reinet Investments S.C.A.

Website: www.reinet.com

 

REINET INVESTMENTS S.C.A.

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