Lehman Brothers Real Estate Partners III, L.P.

"" EXECUTIVE SUMMARY
Lehman Brothers Real Estate Partners III, L.P. (together with its parallel funds, the “Fund” or
“LBREP III”) is a global real estate merchant banking fund being formed to continue Lehman
Brothers’ successful real estate investment activities.

The Fund is the third generation opportunistic real estate private equity fund of Lehman Brothers Holdings Inc. (“Lehman Brothers” or the “Firm”) and follows the success of Lehman Brothers Real Estate Partners II, L.P. (“LBREP II”), a $2.4 billion fund formed in December 2004, and its predecessor Lehman Brothers Real Estate Partners, L.P. (“LBREP I”), a $1.6 billion real estate fund formed in 2000 (together, the “LBREP Funds”). PSERS has committed previously to Lehman Brothers Real Estate Partners Funds I & II.

The Fund will be managed by Lehman Brothers Real Estate Associates III, L.P. The Fund is targeting total capital commitments of $4.0 billion for opportunistic real estate equity investments primarily in North America, Europe and Asia.

As
with the LBREP Funds, Lehman Brothers and its employees will make a substantial contribution
to the Fund, totaling at least the lesser of 20% of the total commitment and $800 million. This
significant investment substantially aligns the interests among Lehman Brothers and its
employees, the limited partners of the Fund and the management and employees dedicated to
the Fund.

The Fund will benefit from its position in the Real Estate Private Equity Group (“REPE”), an
integrated component of Lehman Brothers’ Global Private Equity business, headed by Michael
Odrich, and the Global Real Estate Group (the “Global Real Estate Group” or “GREG”), led by
Mark Walsh. The Fund will be Lehman Brothers’ primary vehicle for opportunistic investment in real estate and will be managed by Global Co-Heads, Brett Bossung and Mark H. Newman,each with over 18 years of industry experience. The close working relationship between REPE and GREG offers the Fund a unique opportunity to access the Firm’s deal flow globally and enjoy the benefit of the many relationships established by Lehman Brothers with real estate entrepreneurs around the world. '"

Full Document and Source
http://164.156.7.89/org/board/resolutions/2007/lehman_20071213.pdf

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MARK A. WALSH was a Managing Director of Lehman Brothers ... private equity portfolio with former Lehman colleagues Brett Bossung - Mark Newman

"" Mark was a Managing Director of Lehman Brothers, Head of the Global Real Estate Group, and a voting partner in all of Lehman's real estate private equity funds.

Mr. Walsh spent over twenty years with Lehman Brothers, where he oversaw the firm's distressed mortgage debt acquisitions, real estate equity and lending activities.

During his career at Lehman Brothers, Mr. Walsh oversaw the origination of more than $300 billion of commercial real estate debt and equity transactions (both for the firm and its private equity business).

Under his leadership, Lehman Brothers was a top ranked CMBS underwriter both globally and domestically and compiled a very successful equity investment track record. In addition to his responsibilities in Real Estate, Mr Walsh was a member of Lehman Brothers' Investment Committee, the Lehman Brothers' Management Committee and the Fixed Income Operating Committee.

Prior to joining Lehman Brothers, Mr. Walsh was a lawyer and represented financial market transactions. Mr. Walsh is also a Founding Member of the Ziman Center for Real Estate at UCLA and holds a B.A. from the College of the Holy Cross and a J.D. from Fordham Law a School. ""

Source
http://www.zoominfo.com/people/Walsh_Mark_8930637.aspx

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