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Reinet Fund Buys Lehman Merchant-Banking Assets

Law360 (January 22, 2009, 12:00 AM EST) -- Reinet Investments SCA, a Luxembourg-based investment company, has agreed to buy part of the merchant-banking business of bankrupt Lehman Brothers Holdings Inc. by committing up to $230 million to new and existing investments over the next three and a half years.

Finalizing an agreement first announced Jan. 12, Reinet said Thursday that its wholly owned subsidiary Reinet Fund will invest in two private equity funds managed by Lehman Brothers Merchant Banking, in a deal that is expected to have no material impact on Reinet's net asset...
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