Lehman ready to invest $1.6bn in real estate

Lehman Brothers has closed a $1.6bn (€1.75bn) private equity fund for investment in real estate in North America and Europe.

Lehman Brothers Real Estate Partners is the bank's first fund dedicated to the property and land market, and the first in the market since the technology surge, and later downturn, that has damaged many venture capital and private equity funds.

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