Secondaries focused private equity firm Lexington Partners is reportedly set to complete fundraising for two vehicles this year before launching its flagship fund in 2014.
The firm expects to raise its $1.5bn third co-investment fund by the end of June, said Bloomberg, citing two people with knowledge of the plans.
The new fund will invest directly in companies held by private equity firms and will feature a wider investor base, said one of the sources.
Lexington has also held a first close for its third mid-market fund Middle Market Investors III in April and expects to hold a $750m final close by the end of the year.
Once the marketing periods of these two funds are over, the firm will launch a successor to its flagship fund Capital Partners VIII, which is expected early next year. The fund will have a similar target to the previous vehicle, which raised $7bn in 2011, said one of the people.
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