Fund Notes 6-3-02

UT Communications Fund II LP of New York is raising $1 billion through a private placement of partnership interests. A minimum investment of $100,000 is required on the placement. At the time of its SEC filing, the company had raised $10.56 million from 65 accredited investors. The private investment partnership intends to use the proceeds from the offering for investment purposes.

Cirrus Partners LP of Denver is raising $500 million through a private placement of partnership interests. A minimum investment of $500,000 is required on the placement. At the time of its SEC filing, the company had raised $3.19 million from seven accredited investors. The private investment partnership intends to use the proceeds from the offering for working capital.

LoneTree Capital Partners LP of Englewood, Colo., is raising $250 million through a private placement of partnership interests. A minimum investment of $10 million is required on the placement. HLH Securities Inc. of Newport Coast, Calif., and C.P. Eaton & Associates Inc. of Rowayton, Conn., are acting as agents on the placement for undisclosed placement fees. At the time of its SEC filing, the company had raised $26 million from five accredited investors. The private equity fund, organized to invest in broadband, communications, Internet and related industries, intends to use the proceeds from the offering for investment in securities.

Ripplewood Partners II Offshore Parallel Fund LP of New York is raising $200 million through a private placement of partnership interests. A minimum investment of $10 million is required on the placement. At the time of its SEC filing, the fund had raised $92.6 million from eight accredited investors. The fund, organized to acquire equity and equity related securities of companies intends to use the proceeds from the offering for investments.