Lehman Brothers yesterday said it might launch an initial public offering of a private equity fund on Euronext Amsterdam this year in an attempt to reopen a market many thought was closed.

Lehman is seeking to raise $500m for the fund, people close to the matter said. The offering would come after similar attempts last year met with lacklustre results: shares in a $5bn KKR fund listed on Euronext last year continue to trade below their offer price.