Graham Winfrey
The firm is roughly halfway to its $1bn target and recently raised $1.09bn for its seventh fund of funds, which also purchases direct secondary fund interests.
The Chicago-based firm has closed its second secondaries fund, which will target limited partner commitments in lower mid-market funds that are more than 30% invested.
The firm’s third co-investment fund brings Lexington’s total capital raised for co-investments to about $4bn since 1998.
Vintage Fund VI, which has been targeting $5bn, was expected to close in mid-June.
The Chicago-based firm is nearing its $425m hard-cap for its second secondaries fund, which will target limited partner commitments of less than $25m in funds that are more than 30% invested.
The Private Equity Group is nearing the $780m it raised for secondaries in 2009.
AlpInvest Secondaries Fund V has attracted $500m from new investors, raising $150m during the first quarter of 2013.
The closing of Adam Street’s Global Secondary Fund V comes during a lull in the secondaries market compared to the levels seen in 2011 and 2012.
The $13.1bn pension is an investor in Landmark funds XI, XIII and XIV.
The firm exceeded its $350m target, raising a total of $650m for secondaries including separately managed accounts.