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Lexington looks to regain biggest secondaries fund title with $8bn Fund VIII

4 Sep 2013

dollar large_sqSecondaries-focused private equity giant Lexington Partners is reportedly targeting $8bn for the latest flagship vehicle which has previously been revealed to be launching next year.

Lexington Capital Partners VIII is looking to improve upon the already vast $7bn vehicle it closed in 2011 according to Dow Jones, which cited documents it had seen which had been sent to investors.

That vehicle was the biggest secondaries fund on the market until June last year, when it was just trumped by AXA Private Equity’s $7.1bn secondaries vehicle.

AltAssets reported two months ago that Lexington planned to launch the fund in 2014 following the completion of two smaller investment vehicles this year, citing sources with knowledge of the plans which spoke to Bloomberg.

The firm held a $1.57bn final close for its third co-investment fund in July, beating its $1.5bn target, and is expecting to close its Middle Market Investors III fund on $750m by the end of the year.

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