private equity founded 1994 headquarters new york ny united states products secondary investments equity co investments fund investments total assets 22 billion number of employees 80 website www.lexingtonpartners.com lexington partners is a leading independent manager of secondary private equity and co investment funds founded in 1994 . lexington partners manages approximately 22 billion of which 7.1 billion was committed to the firm s seventh fund lexington capital partners vii closed in 2011 . 1 lexington was founded by former investment professionals brent nicklas and richard lichter who had previously worked together at landmark partners . lichter subsequently left lexington to head the secondaries group at another fund of funds before founding newbury partners in 2006 . 2 lexington is headquartered in new york with offices in boston menlo park london and hong kong . contents 1 investment program 2 history and notable transactions 3 competitors 4 references 5 external links investment program edit lexington invests primarily as a fund of funds purchasing interests in various investment funds typically structured as limited partnerships . lexington partners acquires positions in venture capital leveraged buyout and mezzanine capital funds together with portfolios of companies or stakes in companies from institutions corporates government bodies and family offices . lexington is a dedicated secondaries investor and like many of its peers has limited ability to make new commitments to private equity funds . while in certain instances this impacts the firm s desirability to general partners as a replacement limited partner lexington does make strategic commitments to newly formed private equity funds . the firm also manages equity co investment vehicles that invest alongside global private equity sponsors . lexington s secondary funds have committed to over 240 newly formed private equity funds while lexington s co investment funds have committed to invest over 2.6 billion in 139 co investments in the u.s. europe and asia . lexington s limited partners include public and corporate pension funds sovereign wealth funds insurance companies financial institutions endowments foundations and family offices . history and notable transactions edit since 1994 lexington has stated that it has completed over 340 secondary market transactions . although most secondary transactions are private the following are notable publicly disclosed transactions and firm milestones 2008 calpers agrees to the sale of a portfolio of legacy private equity funds having started marketing it in late 2007 . 3 a buyer group comprising oak hill investment management conversus capital lexington partners harbourvest and pantheon ventures paid as much as 3 billion for the portfolio . 4 calpers is an existing investor in funds managed by lexington . 5 2007 lexington partners lead a secondary spin out transaction from a hedge fund a 200 million transaction to acquire 70 % stake in 19 investments . citation needed 2006 american capital strategies sells a 1 billion portfolio of investments to a consortium of secondary buyers including lexington partners harbourvest partners and partners group . 6 7 2005 lexington partners and alpinvest partners acquired a portfolio of private equity fund interests from dayton power & light an ohio based electric utility . 8 9 10 2004 lexington partners formed a dedicated secondary fund to acquire private equity interests that were less than 50 % funded . 2003 lexington closes on 2 billion for its fifth fund after two years of marketing ultimately falling short of its 2.5 billion target . 11 12 2000 lexington partners and hamilton lane acquire 500 million portfolio of private equity funds interests from chase capital partners . 2000 coller capital and lexington partners complete the purchase of over 250 direct equity investments valued at nearly 1 billion from natwest . 13 1998 lexington partners established cip i one of the first independent discretionary co investment programs with a leading u.s. based institutional investor . 1994 lexington partners purchased a portfolio of mezzanine fund interests from a bank one of the first transactions of its type . 1994 lexington partners founded by former landmark partners professionals brent nicklas and richard lichter currently newbury partners . competitors edit lexington regularly competes against dedicated secondary investors such as coller capital and landmark partners as well as secondary players that also have active fund of funds platforms e.g. alpinvest partners ardian formerly axa private equity harbourvest partners and certain large financial institutions e.g. credit suisse goldman sachs jp morgan neuberger berman . references edit lexington capital partners vii out of auda portable document format private equity international pei p. 12 october 2006 retrieved 2010 01 03 tracy tennille . calpers and where private equity funds go to die . wall street journal s deal journal blog november 5 2007 . craig catherine . five buy record 3bn calpers portfolio . financial news february 5 2008 . calpers . aim program active investment managers . investment managers i l. december 31 2007 . retrieved october 22 2008 . american capital raises 1bn fund acs spins off stakes into 1b fund thedeal.com alpinvest and lexington partners buy 1.2 bn secondary portfolio from dpl m & a legal guru urges more diligence dpl to sell pe stakes for 850m thedeal.com us secondaries specialist lexington partners closes fund on 2bn lexington holds first close of its latest 2.5 bn secondaries fund press release the royal bank of scotland asset sale external links edit lexington partners official website v t e private equity and venture capital investment firms investment strategy venture growth mezzanine secondaries leveraged buyout history history of private equity and venture capital early history of private equity private equity in the 1980s private equity in the 1990s private equity in the 2000s investors angel investor corporate venture capital commercial bank crowdfunding institutional investor insurance company investment bank endowment family office fund of funds high net worth individual merchant bank pension fund sovereign wealth fund private equity firms venture capital firms portfolio companies retrieved from https en.wikipedia.org w index.php title lexington partners & oldid 730973073 categories private equity firms of the united statesprivate equity secondary marketcompanies established in 1994hidden categories all articles with unsourced statementsarticles with unsourced statements from june 2010 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools 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