Lexington Partners

Lexington Partners

Type	Private Ownership
Industry	Private Equity
Founded	1994; 23 years ago (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).

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.

Lexington is headquartered in New York with offices in Boston, Menlo Park, London and Hong Kong.

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.