Assicurazioni Generali was first reported to be seeking to offload the fund stakes back in May of this year.
Lexington previously acquired a $400m fund portfolio in June 2012. The firm is set to complete fundraising for two vehicles this year before launching its flagship fund in 2014.
This year’s notable secondary deals included AXA’s disposal of its private equity unit and the sale of Groupama Private Equity to by French insurance company Groupama.
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