History of Innovation
History of Innovation
Milestones
Principals of Lexington Partners have been at the forefront of innovation in the alternative investment market for over 34 years. Some of the major milestones accredited to Lexington’s principals include:
2023 Final closing of LCP X program with commitments totaling $22.7 billion
Commitments received from over 400 direct investors in 45 countries
2022 Completion of transaction with large U.S. public pension, representing total capital commitment of approx. $3.1 billion
Major partnership transaction represents one of the largest deals in history of the secondary market with a seller that is a premier institutional private equity investor
Franklin Templeton Completes Acquisition of Lexington Partners
Transaction completed to provide continuity for Lexington’s highly experienced team and continued strong alignment with investors
Final Closing of CIP V at $3.2 billion
Exceeded hard cap with commitments from 13 institutional investors
Opening of office in São Paulo
Lexington’s second office in Latin America
2021 Opening of office in Luxembourg
Expanding Lexington’s European footprint
Final closing of LCP IX program with commitments totaling $14 billion
Commitments received from over 450 investors in 35 countries
Final closing of CIP IV at $2.36 billion
11 Limited Partners in the U.S., Europe, Latin America, and Australia
Final Closing of LMMI IV at $2.66 billion
A specialized fund targeting middle market interests in the global secondary market
Completion of transaction with leading European GP, representing total capital commitment of approx. $1 billion
Major GP-led transaction provides important liquidity opportunities for LPs, and allows GP to reshape investor base and position for growth
Opening of office in Santiago
Builds upon 8 year relationship building in the region
Final closing of LCP VIII, the largest global secondary fund at the time
Commitments totaling $10.1 billion from over 300 investors in 26 countries
Final closing of LMMI III and LEP with commitments totaling $1.2 billion
Specialized middle market secondary funds targeting U.S. and Asian/Latin American interests
Development of the infrastructure secondary market
Purchase of a $500 million original commitment to a leading global infrastructure fund from a U.S. bank
Final closing of CIP III, one of the largest dedicated global co-investment funds at the time
Commitments totaling $1.57 billion
Leadership of $1.7 billion secondary transaction
Purchase of portfolio of private equity and alternative investments from large institutional investor
Final closings of LMMI II and LCP VII, the largest global secondary fund at the time
Commitments totaling $7.65 billion from over 200 investors in 20 countries
Purchase of 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
Purchase of a diversified portfolio of private equity interests from the largest U.S. public pension fund at the time
$1.5 billion purchase, as part of a syndicate, of 52 private equity fund interests
Expansion of Lexington’s successful co-investment program
Forming a dedicated fund to make equity co-investments in Europe and Asia (CIP Europe)
Leadership of a secondary spin-out transaction from a hedge fund
$200 million transaction to acquire a 70% stake in 19 investments
Expansion of Lexington’s innovative co-investment program to form CIP II
Adding a second leading U.S.-based institutional investor
Formation of a dedicated secondary fund to acquire middle market buyout interests (LMMI I)
Including those less than 50% funded at acquisition
Formation of a global secondary fund, LCP V, to acquire a diversified portfolio of private equity interests
Commitments totaling $2.0 billion
Purchase of a diversified portfolio of private equity interests from a corporate pension trust
$570 million purchase of 90 fund interests from a Fortune 500 company
Co-leadership of the first $1 billion secondary transaction in Europe
Purchase of portfolio of investments in U.K. and European companies from a bank
Leadership of the first $1 billion secondary transaction in the U.S.
Purchase of portfolio of global private equity fund interests from a bank
Establishment of Co-Investment Partners (CIP)
One of the first independent, discretionary co-investment programs, with a leading U.S.-based institutional investor (Florida State Board of Administration)
Completion of one of the first secondary transactions to acquire direct company investments
Purchase of a portfolio of 8 company interests from a bank
Development of the mezzanine secondary market
Purchase of a portfolio of mezzanine fund interests from a bank
Development of the buyout secondary market
Purchase of a portfolio of buyout fund interests from a corporation
Development of the venture capital secondary market
Purchase of two separate portfolios of venture capital fund interests from an insurance company and a bank
