Lexington Partners picks up $3bn, pushes on with fundraise

Lexington Capital Partners VII will buy secondary positions in buy-out, mezzanine and venture funds from investors looking for an early exit.

In December, the fund closed on $2.7bn - and rumours now suggest that Lexington may be less ambitious with the amount of capital it aims to raise, with its eye now closer to the $4bn mark.

Predecessor Lexington Capital Partners VI closed in 2006 with $3.8bn in commitments.

Other firms who have recently raised or are still drumming up cash for secondaries investments are Goldman Sachs, Harbourvest Partners, Landmark Partners and Pantheon International.

Founded in 1994, Lexington claims to be the largest independent manager of secondary private equity funds, with over $15bn under management.  

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