Portfolio Update

Bear Stearns Private Equity Limited
04 April 2006





Company     Bear Stearns Private Equity Limited

Headline     Ten Largest Investments

Bear Stearns Private Equity Limited

HSBC Private Bank Building, Rue du Pre, St Peter Port, Guernsey GY1 1LU

4 April, 2006

Regulatory News Service
London Stock Exchange
London
EC4M 7LS

Dear Sir,



BEAR STEARNS PRIVATE EQUITY LIMITED

Please find detailed below the ten largest investments at 31 March 2006.

Investment                                                                          % of net assets
PEAF II LLC*                                                                             16.1%
Starwood Opportunity Fund VI, LP                                                         3.4%
Participation Agreement - Providence Equity Partners IV, LP                              2.9%
Warburg Pincus Private Equity VIII, LP                                                   2.8%
Blackstone Capital Partners IV, LP                                                       2.7%
Thomas H. Lee Equity Fund V, LP                                                          2.6%
Quadrangle Capital Partners, LP                                                          2.6%
Apollo Investment Fund V, LP                                                             2.4%
Candover 2001 Fund No 5                                                                  1.8%
Colony Investors VI, LP                                                                  1.7%



* Comprised of 12 underlying private equity fund interests.



END


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