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Lexington Partners has closed on its largest secondary fund – again.

The firm, which originally closed on $3.5 billion in August, reopened the fund to bring the total to $3.8 billion, according to several people familiar with the firm. The New York-based secondary shop hit the market with Lexington Partners VI LP in 2005 with a $2.5 billion target. It upped the cap to $3 billion in 2006 to meet growing investors’ interest, and adjusted it upward again to $3.5 billion in 2007.

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