Our expertise
Lexington Partners’ substantial investment experience and established leadership position in the global secondary and co-investment markets distinguish the firm.
US$77B
Assets under management
8
Global locations
30+
Year track record of private equity investing
Data as of 30/06/2025.
Team snapshot
Lexington Partners maintains a high retention rate among senior professionals who have worked together across multiple market cycles. This continuity has enabled us to develop global networks for sourcing investment opportunities and foster strong relationships with sponsors, providing us with valuable insights and access to information.
Strong partnership culture
26 partners averaging 19 years together at Lexington
Extensive investment talent
85 investment professionals averaging 10 years of private equity experience
Robust global presence
190+ employees across eight offices in major centres for private equity
Leading secondary market position
We have curated one of the largest portfolios of private investment funds globally.
Large co-investment program
We created one of the first discretionary co-investment programs over 26 years ago.
Global sponsor and sourcing relationships
Extensive sponsor relationships and long-standing sourcing networks offer access to information and high-quality investment opportunities.
Established reputation
Trusted global brand and seasoned expertise, we offer investors a reliable and experienced counterparty with minimal execution risk.
Strategy overview
Leading secondary manager
Lexington’s secondary funds have been organised to acquire global private equity interests through negotiated secondary market transactions.
The long-term nature of private equity and alternative 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 recognised 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
Our knowledge hub
Insight
Private equity secondaries: A primary allocation in an evergreen private equity portfolio
Private equity is at a turning point, with investors and advisors exploring the best ways to allocate across sub-strategies. There is a compelling case for private equity secondaries serving as the cornerstone of a core/satellite evergreen model.
Insight
Private Markets Insights: Not a simple open and closed case
Evergreen and closed-ended / drawdown funds offer different paths to private markets - understanding their strengths can help investors optimise allocations.
Insight
What do tariffs mean for commercial real estate and CRE debt?
Benefit Street Partners believes that although stock market volatility is unsettling, it is not a cause for concern in the CRE sector. Instead, we should expect increased demand for CRE debt investments over the coming months and quarters.
Insight
Unlocking opportunities: Understanding the growing secondary market
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.
Glossary
Private equity:
funds typically invest in equity capital that is not publicly available. Instead, the funds take direct ownership in private companies. Private equity has the potential to provide above-market returns, with greater control, reduced liquidity and greater diversification, than traditional public markets.
Venture capital:
is a form of private equity that investors provide to start-up companies and small business that exhibit high growth potential.
Secondary investments:
involve buying existing stakes in private equity funds or direct investments from current investors. These transactions typically occur after the initial investment period and allow new investors to enter the fund or investment at a later stage, often with more information about the underlying assets and potentially at a discount.
Co-investments:
are direct investments made alongside a private equity fund into a specific portfolio company. These investments allow investors to participate in individual deals without paying additional management fees or carried interest, providing an opportunity to enhance returns and gain exposure to particular assets or sectors.
Correlation:
is a statistical measure of the relationship between two sets of data. When asset prices move together, they are described as positively correlated; when they move opposite to each other, the correlation is described as negative or inverse. If price movements have no relationship to each other, they are described as uncorrelated.
Lexington Partners is a Specialist Investment Manager (“SIM”), part of the Franklin Templeton Group.
Important Legal Information
This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.
This website is for information only and does not constitute investment advice or a recommendation and was prepared without regard to the specific objectives, financial situation or needs of any particular person who may receive it. This website may not be reproduced, distributed or published without prior written permission from Franklin Templeton.
Any research and analysis contained in this document has been procured by Franklin Templeton for its own purposes and may be acted upon in that connection and, as such, is provided to you incidentally. Although information has been obtained from sources that Franklin Templeton believes to be reliable, no guarantee can be given as to its accuracy and such information may be incomplete or condensed and may be subject to change at any time without notice. Any views expressed are the views of the fund manager as of the date of this document and do not constitute investment advice. The underlying assumptions and these views are subject to change based on market and other conditions and may differ from other portfolio managers or of the firm as a whole.
There is no assurance that any prediction, projection or forecast on the economy, stock market, bond market or the economic trends of the markets will be realized. Franklin Templeton accepts no liability whatsoever for any direct or indirect consequential loss arising from the use of any information, opinion or estimate herein.
The value of investments and the income from them can go down as well as up and you may not get back the full amount that you invested.
Past performance is not necessarily indicative nor a guarantee of future performance of the Fund. Subscriptions may only be made on the basis of the most recent Prospectus and Product Highlights Sheet which is available at Templeton Asset Management Ltd or authorised distributors of the Fund. Potential investors should read the details of the Prospectus and Product Highlights Sheet before deciding to subscribe for or purchase the Fund. This shall not be construed as the making of any offer or invitation to anyone in any jurisdiction in which such offer is not authorised or in which the person making such offer is not qualified to do so or to anyone to whom it is unlawful to make such an offer.
Investors may wish to seek advice from a financial adviser before making a commitment to invest in shares of the Fund. In the event an investor chooses not to seek advice from a financial adviser, he/she should consider whether the Fund is suitable for him/her.
Copyright© 2025 Franklin Templeton. All rights reserved.
Issued by Templeton Asset Management Ltd. Registration Number (UEN) 199205211E.