|Industry||Private equity, Venture capital|
|Fate||Acquired by Lehman Brothers|
|Successor||Neuberger Berman (2009)
Lehman Brothers Private Equity (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.
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.
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.
- Crossroads Group (company website from Internet Archive)
- "Lehman Brothers Fund of Funds: History."
- Neuberger Berman Private Equity Partners
- "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
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