Lehman Brothers’ fund of funds’ net asset value (NAV) was marginally up in the first four months of the year, while Conversus, another Euronext-listed fund of funds, had a slight NAV decline.
The funds continue to battle against substantial discounts to NAV in line with the majority of listed private equity funds.
Lehman Brothers Private Equity Partners, rose 1.25 percent in NAV to $10.50 (€6.81) per share, or $569.2 million in the period up to 31 March 2008. It rose approximately 0.03 percent to $10.53 in April and its shares were trading up 1.14 percent to $8.85, a discount of 25.24 percent.
Conversus Capital's net asset value fell around 2.7 percent to $27.95 per unit in the quarter to 31 March this year. As of 30 April 2008, Conversus had an estimated NAV per unit of $28.26, an increase by 1.1 percent for the month.
Conversus’ shares were trading up for the week by 1.18 percent to $21.50 per share today, a discount of 31.4 percent to the 30 April NAV. Funded assets were $2.16 billion and unfunded commitments were $926.9 million as of 30 April this year.