About Lexington Partners
Lexington Partners is a leading global private market investment manager of secondary private equity and co-investment funds.
Team snapshot
High retention of senior professionals, who have invested together throughout multiple market cycles, has helped Lexington Partners establish global sourcing networks and build extensive sponsor relationships with access to information.
Strong partnership culture
28 partners averaging 19 years together at Lexington
Extensive investment talent
90 investment professionals averaging 10 years of private equity experience
Robust global presence
Over 200 employees across nine offices in major centers for private equity
Firm at-a-glance
Lexington Partners’ substantial investment experience and established leadership position in the global secondary and co-investment markets distinguish the firm.
We have assembled one of the world’s largest portfolios of private investment funds.
We created one of the first discretionary co-investment programs over 25 years ago.
Extensive sponsor relationships and longstanding sourcing networks offer access to information and high-quality deal flow.
Enduring global brand and an experienced counterparty with low execution risk.
Strategy overview
Leading secondary manager
Lexington’s secondary funds have been organized to acquire global private equity interests through negotiated secondary market transactions.
The long-term nature of private equity and private market investments can present secondary market opportunities when factors such as portfolio rebalancing, government regulation, overallocation, and general liquidity needs give rise to investors actively managing their private investment allocations.
Lexington’s counterparty reputation, breadth of relationships and strength of capital are widely recognized by global sellers.
Target transactions
Partnership portfolios, GP-led transactions, opportunistic deal flow, and primary commitments
Investment size
Complex, multi-billion dollar portfolios to single interest acquisitions
Leading co-investment program
Lexington’s co-investment program makes equity co-investments in deals alongside leading private equity sponsors. Buyout and growth sponsors have demonstrated an increased willingness to seek out supplementary co-investment capital, thereby providing robust deal sourcing opportunities for Lexington’s co-investment program.
Target transactions
Seeking opportunities from leading buyout and growth capital sponsors
Investment size
Target $10 to $100 million per transaction
Connect with an expert
Your Franklin Templeton Private Markets Director can share insights about investing in private equity.
Knowledge hub
Go to knowledge hub
The global secondary market has grown over the past three decades primarily because of the increased supply of capital committed to private investment funds, according to Lexington Partners. They believe the backdrop for the secondary market continues to remain attractive.
Earn CE credit while exploring the opportunities with private equity, evaluate its stages (venture capital, growth equity and buyout) and examine why the current market environment requires a different playbook.
Secondary funds, commonly referred to as secondaries or continuation transactions, purchase existing interests from limited partners (LPs) or assets from primary private equity fund investors.
Important Information
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Important data provider notices and terms available at www.franklintempletondatasources.com.
You need Adobe Acrobat Reader to view and print PDF documents. Download a free version from Adobe's website.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliates companies. Prior to July 7, 2021, Franklin Templeton Distributors, Inc., and Legg Mason Investor Services, LLC served as mutual fund distributors for Franklin Templeton. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE. Reports and other information about the fund are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
Footnotes
- As of 9/30/25 reported values and underlying GP values of 6/30/25