Crossroads Group
Secondaries, Co-investments |
The Crossroads Group was a Dallas-based private equity fund of funds firm focusing on venture capital investments. The firm, founded in 1981 by Brad Heppner, was acquired by Lehman Brothers in October 2003. Since Lehman Brothers' 2008 bankruptcy, Crossroads has been a part of Neuberger Berman.[1]
History
Founded in 1981 as Bigler/Crossroads, the firm focused on investing as a
At the time of its acquisition in 2003, Crossroads managed approximately $2 billion of capital on behalf of its investors. Over its 22-year history, the firm raised 16 Crossroads Funds, and invested with more than 200 private equity firms.[4]
In 1999, Crossroads acquired a $340 million portfolio of direct investments in large to mid-cap companies from Electronic Data Systems (EDS).[5]
References
- ^ Halkias, Maria (22 August 2018). "Dallas firm that recruited CNBC correspondent hires fourth SEC lawyer for its team". Dallasnews.com. Retrieved 1 October 2019.
- ^ "Lehman Brothers buying Crossroads Group." Dallas Business Journal September 17, 2003
- ^ "Press Release: LEHMAN BROTHERS TO ACQUIRE THE CROSSROADS GROUP, EXPANDING ITS PRIVATE EQUITY FUND INVESTMENT MANAGEMENT BUSINESS Archived 2007-10-07 at the Wayback Machine. September 17, 2003"
- ^ Crossroads Group: About (company website from Internet Archive)
- Dallas Business Journal, September 24, 1999
External links
- Crossroads Group (company website from Internet Archive)
- "Lehman Brothers Fund of Funds: History."
- Neuberger Berman Private Equity Partners
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