Ownership Submission
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, Section 17(a) of the Public Utility Holding Company Act of 1935 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 *
  GS PEP 2000 Advisors, L.L.C.
 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)
85 BROAD STREET		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10004		 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 14,057,137
I
See (1) (2) (3) (4)

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 purchase Common Shares   (5) 12/12/2015 Common Shares 1,604,410.1 $ 17.5 I See (1) (2) (3) (4)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
GS PEP 2000 Advisors, L.L.C.
85 BROAD STREET
NEW YORK, NY 10004		     X    
GS PEP 2000 Offshore Holdings Advisors, Inc.
85 BROAD STREET
NEW YORK, NY 10004		     X    
GS PEP 2000 Direct Investment Advisors, L.L.C.
85 BROAD STREET
NEW YORK, NY 10004		     X    

Signatures

/s/ Roger S. Begelman, attorney-in-fact 07/24/2007
**Signature of Reporting Person Date
/s/ Roger S. Begelman, attorney-in-fact 07/24/2007
**Signature of Reporting Person Date
/s/ Roger S. Begelman, attorney-in-fact 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) See Exhibit 99.1 for text of footnote 1.
(2) Due to the electronic system's limitation of 10 Reporting Persons per joint filing, this statement is being filed in triplicate.
(3) See Exhibit 99.1 for text of footnote 3.
(4) See Exhibit 99.1 for text of footnote 4.
(5) The warrants are exercisable at any time prior to December 12, 2015.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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