FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  ML Global Private Equity Fund, L.P.
 2. Date of Event Requiring Statement (Month/Day/Year)
07/24/2007		 3. Issuer Name and Ticker or Trading Symbol
VALIDUS HOLDINGS LTD [VR]
(Last)
(First)
(Middle)
4 WORLD FINANCIAL CENTER		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10080		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Shares 5,714,285
D (1) (3) (5)
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Warrants to acquire common shares   (4) 12/12/2015 Common Shares 1,067,187 $ 17.5 D (2) (3) (5)  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
ML Global Private Equity Fund, L.P.
4 WORLD FINANCIAL CENTER
NEW YORK, NY 10080		   X   X    
Merrill Lynch Group, Inc.
4 WORLD FINANCIAL CENTER
NEW YORK, NY 10080		   X   X    
ML Global Private Equity Partners, L.P.
4 WORLD FINANCIAL CENTER
NEW YORK, NY 10080		   X   X    
Merrill Lynch GP, Inc.
4 WORLD FINANCIAL CENTER
NEW YORK, NY 10080		   X   X    
MERRILL LYNCH VENTURES LLC
4 WORLD FINANCIAL CENTER
NEW YORK, NY 10080		   X   X    
MLGPE Ltd.
4 WORLD FINANCIAL CENTER
NEW YORK, NY 10080		   X   X    
Merrill Lynch Ventures LP 2001
4 WORLD FINANCIAL CENTER
NEW YORK, NY 10080		   X   X    
GMI Investments, Inc.
4 WORLD FINANCIAL CENTER
NEW YORK, NY 10080		   X   X    
MERRILL LYNCH & CO INC
4 WORLD FINANCIAL CENTER
NEW YORK, NY 10080		   X   X    

Signatures

ML Global Private Equity Fund, L.P. By: MLGPE Ltd., its general partner By: Frank Marinaro 07/17/2007
**Signature of Reporting Person Date
MLGPE Ltd. By: Frank Marinaro 07/17/2007
**Signature of Reporting Person Date
ML Global Private Equity Partners, L.P. By: Merrill Lynch GP, Inc., its general partner By: Frank Marinaro 07/17/2007
**Signature of Reporting Person Date
Merrill Lynch GP, Inc. By: Frank Marinaro 07/17/2007
**Signature of Reporting Person Date
Merrill Lynch Group, Inc. By: Frank Marinaro 07/17/2007
**Signature of Reporting Person Date
Merrill Lynch & Co., Inc. By: Frank Marinaro 07/17/2007
**Signature of Reporting Person Date
Merrill Lynch Ventures L.P. 2001 By: Merrill Lynch Ventures, L.L.C., its general partner By: Frank Marinaro 07/17/2007
**Signature of Reporting Person Date
Merrill Lynch Ventures, L.L.C. By: Frank Marinaro 07/24/2007
**Signature of Reporting Person Date
GMI Investments, Inc. By: Douglas Madden 07/24/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) 4,285,714 shares are owned directly by ML Global Private Equity Fund, L.P. ("MLGPE"), a partnership of which MLGPE LTD. is the general partner, which is a wholly-owned subsidiary of ML Global Private Equity Partners, L.P., the general partner of which is Merrill Lynch GP, Inc., which is a wholly-owned subsidiary of Merrill Lynch Group, Inc., which is a wholly-owned subsidiary of Merrill Lynch & Co., Inc. 1,428,571 shares are owned directly by Merrill Lynch Ventures L.P. 2001, a partnership of which Merrill Lynch Ventures, L.L.C. is the general partner, which is a wholly-owned subsidiary of Merrill Lynch Group, Inc.
(2) 364,803.6 warrants are owned directly by MLGPE, 580,782 warrants are owned directly by GMI Investments, Inc., a wholly-owned subsidiary of Merrill Lynch Group, Inc., and 121,601.2 warrants are owned directly by Merrill Lynch Ventures L.P. 2001.
(3) Each of the reporting owners disclaims beneficial ownership of these securities, except to the extent of its pecuniary interest therein.
(4) Warrants are exercisable at any time prior to Expiration Date.
(5) Each reporting person may be deemed a director by virtue of the fact that Mandakini Puri, an employee of an affiliate of the reporting persons, is a director of Validus Holdings, Ltd.

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