Firm


Principals of Lexington Partners have been at the forefront of innovation in the alternative investment market for more than 27 years.

Some of the major milestones accredited to Lexington’s principals include:

  • Announcing Lexington Partners Latin America
    (Lexington Partners Opens Office in Santiago de Chile, 2016, link to press release)
  • Announcing the final closing of LCP VIII, the largest global secondary fund
    (Equity commitments totaling $10.1 billion from over 300 investors in 26 countries, 2015, link to press release)
  • Announcing the final closings of LMMI III and LEP, specialized middle market secondary funds targeting U.S. and Asian/Latin American interests
    (Equity commitments totaling $1.2 billion, 2014, link to press release)
  • Developing the infrastructure secondary market
    (Purchasing a $500 million original commitment to a leading global infrastructure fund from a U.S. bank, 2013)
  • Announcing the final closing of CIP III, one of the largest dedicated global co-investment funds
    (Equity commitments totaling $1.57 billion, 2013, link to press release)
  • Leading the first $1.7 billion secondary transaction
    (Purchasing portfolio of private equity and alternative investments from large institutional investor, 2012)
  • Announcing the final closings of LMMI II and LCP VII, the then largest global secondary fund
    (Equity commitments totaling $7.650 billion from over 200 investors in 20 countries, 2011, link to press release)
  • Purchasing a diversified portfolio of co-investments, fund-of-funds and mezzanine investments from a U.S. bank
    ($1.2 billion purchase of 128 private equity interests, 2010, link to press release)
  • Identifying countercyclical opportunity post-GFC and completing 22 secondary transactions in 15 months ending December 2009
    (Acquired 78 interests managed by 49 sponsors at historically high discounts, 2009)
  • Purchasing select subset of funds from broader sell down by leading U.S. university endowment
    ($200 million purchase of 10 buyout funds managed by top quartile sponsors, 2008)
  • Purchasing a diversified portfolio of private equity interests from the largest U.S. public pension fund
    ($1.5 billion purchase, as part of a syndicate, of 52 private equity fund interests, 2008)
  • Leading a secondary spin-out transaction from a hedge fund
    ($200 million transaction to acquire a 70% stake in 19 investments, 2007)
  • Expanding Lexington’s successful co-investment program by forming dedicated fund to make equity co-investments in Europe and Asia
    (CIP Europe, 2007)
  • Completing a secondary spin-out transaction from a publicly traded Business Development Company
    ($1 billion purchase, as part of a syndicate, for 30% stake in 96 private U.S. middle market companies, 2006)
  • In conjunction with Wharton finance professor, developing methodologies to assess the historical risk-adjusted returns and stock market correlation of private equity and secondary acquisition funds
    (Lexington’s Risk-Adjusted Return Analysis, 2005)
  • Expanding Lexington’s innovative co-investment program to form CIP II, adding a second leading U.S.-based institutional investor
    (New York State Teachers’ Retirement System and Florida State Board of Administration, 2005)
  • Forming a dedicated secondary fund to acquire middle market buyout interests including those less than 50% funded at acquisition
    (LMMI I, 2004)
  • Forming the global secondary fund, LCP V, to acquire a diversified portfolio of private equity interests
    (Equity commitments totaling $2.0 billion, 2002)
  • Purchasing a diversified portfolio of private equity interests from a corporate pension trust
    ($570 million purchase of 90 fund interests from Fortune 500 company, 2001)
  • Leading the first $1 billion secondary transaction in the United States
    (Purchasing portfolio of global private equity fund interests from a bank, 2000)
  • Co-leading the first $1 billion secondary transaction in Europe
    (Purchasing portfolio of investments in U.K. and European companies from a bank, 2000)
  • Establishing CIP, one of the first independent, discretionary co-investment programs, with a leading U.S.-based institutional investor
    (Florida State Board of Administration, 1998)
  • Initiating the leading source of information on the global secondary market
    (Lexington’s Annual Secondary Market Review, 1997)
  • Completing one of the first secondary transactions to acquire direct company investments
    (Purchasing a portfolio of 8 company interests from a bank, 1996)
  • Developing the mezzanine secondary market
    (Purchasing a portfolio of mezzanine fund interests from a bank, 1994)
  • Developing the buyout secondary market
    (Purchasing a portfolio of buyout fund interests from a corporation, 1993)
  • Developing the venture capital secondary market
    (Purchasing two separate portfolios of venture capital fund interests from an insurance company and a bank, 1990)

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