PRESS RELEASE FOR IMMEDIATE RELEASE
10 MARCH 2009
Reinet Investments S.C.A. is pleased to advise that the limited partners in Lehman Brothers Merchant Banking Partners IV LP and Lehman Brothers Merchant Banking Partners IV (Europe) LP (together the 'Funds') have approved the proposed involvement of Reinet Fund S.C.A. F.I.S. in the management of the Funds.
Reinet will initially invest up to $ 10 million in a joint-venture with the current management team and other investors in respect of the Funds’ management company. In addition, Reinet will assume the managing partner's commitments to invest up to $ 230 million in new investments to be made over the remaining lives of the Funds.
The transaction is expected to close within 30 days.
About Lehman Brothers Merchant Banking ('LBMB')
LBMB 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, LBMB 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 Funds 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.
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 € 2.0 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 on the exchange operated by the JSE Limited.
Reinet Investments Manager S.A.
for and on behalf of Reinet Investments S.C.A.
REINET INVESTMENTS S.C.A.
REGISTERED OFFICE: 35, BOULEVARD PRINCE HENRI, L-1724 LUXEMBOURG