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Lexington Partners (“Lexington”) today announced it has entered into a definitive agreement to acquire a portfolio of approximately £470 million (US$730 million) of limited partnership interests in 33 private equity funds from certain subsidiaries of Lloyds Banking Group plc.

Marshall Parke, Managing Partner of Lexington’s international activities, said, “Lexington is pleased to have reached agreement with Lloyds to acquire a portfolio of high quality private equity fund investments. With a focus on the European midmarket, this portfolio is an excellent complement to Lexington’s recent investment activities in the United States and Asia.”

Terms of the transaction, which is expected to close early in the first quarter of 2011, were not disclosed. Completion of the transaction is subject to customary closing conditions.

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About Lexington

Lexington Partners is one of the world’s largest and most successful managers of secondary private equity and co-investment funds. Lexington helped pioneer the development of the institutional secondary market over 30 years ago and created one of the first independent, discretionary co-investment programs 25 years ago. Lexington has total capital in excess of $75 billion and has acquired over 5,000 interests through more than 1,000 transactions. Lexington’s global team is strategically located in major centers for private equity and alternative asset investing across North America, Europe, Asia, and Latin America. Lexington is the global secondary private equity and co-investments specialist investment manager of Franklin Templeton.

Media Contacts

In New York:

Todd Fogarty
(212) 521-4854

In London:

Kirk Beaton
Lexington Partners
+44 (20) 7318 0888