Investment Firm Lexington Partners Explores Sale, KKR Weighs Bid

Sep 16, 2021 | News

Investment firm Lexington Partners LP is exploring a sale of its business, part of an increasingly popular niche of the red-hot private-equity industry, according to people familiar with the matter.

Closely held Lexington, which specializes in buying secondhand stakes in private-equity funds, has hired Goldman Sachs Group Inc. to advise on a potential sale, which could value the firm at a few billion dollars, some of the people said.

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Lexington Partners is a leading global alternative investment manager primarily involved in providing liquidity solutions to owners of private equity and other alternative investments and in making co-investments alongside leading private equity sponsors. Lexington Partners is one of the largest independent managers of secondary acquisition and co-investment funds with $55bn in committed capital since inception.

Lexington has acquired over 3,600 secondary and co-investment interests through more than 950 transactions with a total value in excess of $63bn, including $16bn of syndications. Lexington also invests in private investment funds during their initial formation and has committed to more than 500 new funds in the U.S., Europe, Latin America, and the Asia-Pacific region. Lexington has offices strategically located in major centers for private equity and alternative investing ‐ New York, Boston, Menlo Park, London, Hong Kong, Santiago, São Paulo and Luxembourg.

Source: Wall Street Journal

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