If you're in VB 9 (VS2008), a predicate can be a complex function:
Dim list As New List(Of Integer)(New Integer() {1, 2, 3})
Dim newList = list.FindAll(AddressOf GreaterThanTwo)
...
Function GreaterThanTwo(ByVal item As Integer) As Boolean
'do some work'
Return item > 2
End Function
Or you can write your predicate as a lambda, as long as it's only one expression:
Dim list As New List(Of Integer)(New Integer() {1, 2, 3})
Dim newList = list.FindAll(Function(item) item > 2)