Lehman Brothers Private Equity has issued more shares in its newly listed fund of funds by exercising an over-allotment option in spite of a pronounced fall in global equities over the past six weeks.

The Euronext-listed fund of funds raised a further $42.1m (€31.2m) to increase the proceeds of its initial public offering to $542.1m. Hoare Govett and UBS were bookrunners on the offering.