PRINT THIS PAGE Lehman continues growing private equity activities with hiring of secondaries team15/10/2004. Source: AltAssets. 
 US investment bank Lehman Brothers has continued the bulking up of its private equity activities with the hiring of a team of secondaries specialists. Brian Talbot joins from Deutsche Bank to become a managing director and head of the secondary fund investing group.
Tony Tutrone, head of Lehman's Private Funds Investment Group, said: 'We identified secondary private equity as a natural and important extension of Lehman Brothers' growing private equity funds business.'
Talbot and his team, new recruits Ethan Falkove and Tristram Perkins, will be responsible for the origination, valuation and purchase of secondary market interests in private equity funds.
Lehman Brothers recently raised its first dedicated European mezzanine fund and last year bought the US fund of funds the Crossroads Group.
Secondary fund investing has grown dramatically in recent years, resulting in a massive increase in the population of dedicated secondary specialists. In addition to the relatively small number of established independents such as Landmark or Lexington, a legion of investment banks, funds of funds, and large institutional investors are active participants in the marketplace.
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