Private Equity: Lexington Partners Raises $14 Billion for Ninth Fund

January 22, 2020 | Investments, News, Private Equity

The new fund focuses on a wide range of alternative assets.

Lexington Partners announced the closing of Lexington Capital Partners IX which raised $14 billion of commitments.

Lexington Capital is one of the largest funds that invest in private equity and alternative assets. It focuses on sectors globally through a full range of negotiated secondary market transactions.

Lexington will buy partnership portfolios from large-scale investors as they undertake portfolio rebalancing and complemented by smaller opportunities leveraging Lexington’s deep industry relationships. The new fund will also pursue opportunities for the secondary purchase of direct investments, equity co-investments, and hedge fund private equity assets.

Lexington Partners Set for New Fund

The fund has 450 investors. Its investors comprise major public and corporate pensions, sovereign wealth funds, and insurance companies. These investors are also located in North America, Europe, Asia-Pacific, Latin America, and the Middle East.

Meanwhile, Lexington Partners believes that secondary industry volume reached a new record in 2019 with approximately $85 billion. That figure is up significantly from $68 billion in 2018. They also believe that the secondary markets will continue to grow as investors look for earlier liquidity in PE funds.

“We are extremely grateful for the strong support from our investors around the globe who have chosen to entrust significant capital with Lexington,” said Wil Warren, President of Lexington Partners. “The success of this fundraise speaks to Lexington’s strong global platform, highly experienced team, and consistent investment strategy, which position us well to capitalize on an increasingly large secondary market opportunity.”

Recent: Private Equity: Shoreline’s Inaugural Private Equity Fund Raises $300 Million

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