- Crossroads Group
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The Crossroads Group 
Former type Private ownership Industry Private equity, Venture capital Fate Acquired by Lehman Brothers Successor Neuberger Berman (2009)
Lehman Brothers Private Equity (2003)Founded 1981 Defunct October 2003 Headquarters Dallas, Texas, United States Products Fund of funds, Secondaries, Co-investments The Crossroads Group was a Dallas-based private equity fund of funds firm focusing on venture capital investments. The firm was founded in 1981 and acquired by Lehman Brothers in October 2003. Since Lehman Brothers 2008 bankruptcy, Crossroads has been a part of Neuberger Berman.
History
Founded in 1981 as Bigler/Crossroads, the firm focused on investing as a limited partner in venture capital funds and to a lesser extent in other private equity strategies including middle market U.S. leveraged buyout investments and mezzanine capital. Crossroads was also an early investor in secondary interests in existing private equity partnerships.[1][2]
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.[3]
In 1999, Crossroads acquired a $340 million portfolio of direct investments in large- to mid-cap companies from Electronic Data Systems (EDS).[4]
External links
- Crossroads Group (company website from Internet Archive)
- "Lehman Brothers Fund of Funds: History."
- Neuberger Berman Private Equity Partners
References
- ^ "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. September 17, 2003"
- ^ Crossroads Group: About (company website from Internet Archive)
- ^ Cawley, Rusty "Crossroads uses EDS portfolio to launch fund." Dallas Business Journal, September 24, 1999
Barclays PLC Brands: Barclays • Barclaycard • Barclays Capital • Barclays Private Equity • Barclays Wealth • The Woolwich • Absa (South Africa)Historical components: Backhouse's Bank • Crossroads Group • FirstCaribbean International Bank • Gurney's Bank • Juniper Bank • Kuhn, Loeb & Co. • Martins Bank • Lehman Brothers • Lock, Hulme & Co. • London Provincial and South Western BankCorporate Directors: Marcus Agius (Group Chairman) •Sir Richard Broadbent (Deputy Chairman) • Robert Diamond (Group Chief Executive) • Chris Lucas • David Booth •Alison Carnwath • Fulvio Conti • Simon Fraser • Reuben Jeffrey III • Sir Andrew Likierman • Dambisa Moyo • Sir Michael Rake • Sir John SunderlandAnnual revenue: GB£31.440 billion (2010) · Employees: 147,500 (2011) · Stock Symbol: LSE: BARC · Website: www.barclays.com Private equity and venture capital investment firms Investment strategy 
History History of private equity and venture capital · Early history of private equity · Private equity in the 1980s · Private equity in the 1990s · Private equity in the 2000sInvestors Institutional Investors · Pension funds · Insurance companies · Endowments · Investment Banks · Merchant banks · Fund of funds · High net worth individuals · Angel investors · Family offices · Sovereign wealth fundsPrivate equity firms · Venture capital firms · Portfolio companies Categories:- Private equity firms of the United States
- Investment management companies of the United States
- Private equity secondary market
- Lehman Brothers
- Private equity firm stubs
- Financial services company stubs
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