Lexington Partners
China GPs seek global angles as domestic deployment slows - AVCJ Forum
Global expansion remains a bright spot in China’s investment landscape as private equity firms slow deployment domestically in favour of supporting China-related entrepreneurs or business concepts in other markets, the AVCJ Private Equity & Venture...
Global dealmakers highlight private credit, continuation funds – AVCJ Forum
Private credit and secondary continuation funds have emerged as popular themes globally as high interest rates, geopolitical tensions, and macro uncertainty persist, GPs told the AVCJ Private Equity & Venture Forum Japan 2023.
Fund focus: Lexington targets growing Asia secondaries market
Having closed its ninth fund at $14 billion, Lexington Partners is hunting for assets in a secondary market that is becoming ever larger and diverse. Asia is on the agenda, whether it’s GP-led restructurings or LP portfolios
Lexington leads $1b stapled secondary for TPG Asia
Lexington Partners has backed a GP-led tender offer for TPG Capital’s fifth and sixth Asia funds, taking out existing positions held by LPs and investing new capital into the firm’s seventh pan-regional vehicle. The transaction represents a total...
Lexington leads $1.2b Warburg Pincus Asia secondary deal
Lexington Partners is leading the $1.2 billion secondary deal that will see Warburg Pincus sell a portion of every Asian investment in its 11th global fund in order to return capital to LPs. Goldman Sachs’ asset management arm is also participating...
GP-led secondaries: Stigmatized no more
Traditionally perceived as a recourse for private equity firms in trouble, GP-led secondary transactions are starting to be used by brand-name managers as a liquidity solution for LPs
Secondaries: Stick or twist?
After several years of rapid growth, secondaries volumes slowed in the first half of 2016, while fundraising reached an all-time high. Opinion is divided on the prospects for an increasingly nuanced market
Asia secondaries: Worth the wait?
A host of pure-play and multi-strategy managers have allocated more resources to Asia in recent years to capture the nascent secondaries opportunity. The region if offering more but has yet to reach full maturity
Lexington raises largest ever secondaries fund
Lexington Partners reached a final close on its eighth global secondaries fund at the hard cap of $10.1 billion. It is the largest dedicated secondaries vehicle ever raised.
Secondaries: Deal flow spike
Secondary deal flow has reached record breaking levels in 2014. Regulatory reform and economic recovery have helped, but that is not the whole story - the maturing market is arguably more important
GPs upbeat on changing LP base - AVCJ Forum
While some LPs may have retreated from the asset class in recent years, private equity firms are increasingly identifying new sources capital as other investors - either from Asia or looking to tap Asia - remain eager to allocate.
Q&A: Lexington Partners' Brent Nicklas
Brent Nicklas, managing partner at Lexington Partners, on his expectations for private equity secondaries in a global market characterized by increased regulation, consolidation and ever larger LPs
StepStone reaches $450m close on secondaries fund
StepStone has held a final close of $450 million on its global secondaries fund. The vehicle, StepStone Secondary Opportunities Fund II, exceeded the original target of $350 million with commitments coming from public and corporate pension funds, insurance...
China to buy LP interests from GM pension plan
The Chinese government has agreed to buy stakes in a string of private equity funds, including vehicles managed by The Carlyle Group, The Blackstone Group and CVC Capital Partners, from General Motors’ (GM) pension plan.
Asia LP interests: The price factor
Global LPs have no intention of reducing their exposure to Asia. This has put upward pressure on secondaries prices, but assessing fair value is more difficult than it seems
Chinese investors ask Terra Firma to create sovereign fund pool
Terra Firma Capital Partners has been approached by several large investors from China and the Middle East to set up a sovereign fund pool.
SEC approves Volcker rule as market watchers express concerns
Concerns are being raised that the Volcker rule, which limits bank exposure to asset classes such as a private equity, will be postponed or weakened by lobbyists and that some forms of proprietary trading will be exempted completely. The rule was approved...
Lexington eyes bumper deal flow
Brent Nicklas founded Lexington Partners in 1994 and currently serves as managing partner, overseeing private equity secondary and co-investment funds. He discusses global opportunities for secondary investors
Secondaries in Asia: Small beginnings
Global secondary investors are opening offices and forging relations in Asia, waiting for the trickle of deals to evolve into a healthy flow
AXA Private Equity raises $3b for secondary fund
AXA Private Equity has raised $3 billion for its latest secondary fund. It is targeting a final close of $3.5 billion for AXA Secondary Fund V, having set the hard cap at $4 billion, the Wall Street Journal reported, citing a person familiar with the...
European banks tipped to dispose $45m in PE assets by 2014
European banks could divest up to $45 billion in private equity assets within three years, according to Thomas Liaudet, a partner at Campbell Lutyens. Financial institutions are looking to rid themselves of non-core assets as they restructure their businesses...
Lexington closes largest-ever secondaries fund at $7b
Lexington Partners has closed its latest secondary fund at $7 billion, making it the largest-ever secondaries offering, Dow Jones reported, citing people familiar with the situation. The fund includes separate accounts – including one held by China...
First Reserve opens in Asia with MD Paton
Energy-focused First Reserve Corp. has launched in Asia via an office in Hong Kong, the latest global firm to be drawn to the region in search of investment prospects.
Lexington Partners opens Asian office
Lexington Partners, the world’s largest secondaries manager, has recently set up a Hong Kong office. The office will be helmed by Kirk Beaton, who relocated in mid-January from the firm’s London operations.