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Lehman Brothers Private Equity (NBPE)

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Tuesday 30 September, 2008

Lehman Brothers Private Equity

Lehman Brothers Private Equity Partners Limited...

30 September 2008
Lehman Brothers Private Equity Partners Limited ("LBPE" or "the
Company"), a closed-end
private equity fund of funds investment company, today announced that
it was informed that
Lehman Brothers Holdings Inc. has agreed to the sale of substantially
all of its Investment
Management Division to Bain Capital LLC and Hellman & Friedman LLC,
in partnership
with existing management. Lehman Brothers Private Fund Advisers, LP,
the Investment
Manager for LBPE, and certain of its affiliates will be a part of
this transaction. The sale is
subject to regulatory and certain investor approvals.

The transaction will create a focused, independent investment
management company poised
to be a leading provider of world class traditional and alternative
investment products and

LBPE's Board of Directors believes this transaction will
significantly benefit the Company.
It will provide the management team of the Investment Manager a
strong platform from
which to continue managing LBPE's high quality private equity
portfolio and support the
long term success of the Company.

For further information, please contact:

LBPE Investor Relations +1 214 647 9593

Financial Dynamics +44 20 7269 7114
Rob Bailhache
Nick Henderson

About Lehman Brothers Private Equity Partners
LBPE is a closed-end private equity fund of funds investment company
listed on Euronext
Amsterdam on 25 July 2007, raising a total of $542.1 million. LBPE
holds a diversified
portfolio of private equity fund investments and certain direct
co-investments, diversified
across private equity asset class, geography, industry, vintage year
and sponsor, selected by
the Investment Manager.