The retirement system plans to commit about $1.2bn to the asset class in 2014.
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 bankrupt city’s $2bn General Retirement System will interview Landmark and Lexington as it searches for a manager to run a $15m allocation to private equity secondaries.
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 private equity firm that focuses on restructuring and liquidating aging private equity funds has already made six investments from Fund III.
The firm is seeking $500m for Fund III, which originally had a $1.3bn target.
The firm’s third co-investment fund brings Lexington’s total capital raised for co-investments to about $4bn since 1998.
The $150m in commitments to the fourth Asia-focused fund so far are through re-ups from the previous Asia vehicle.
The firm’s oversubscribed Dover Street VIII fund surpassed its $3bn target and managing director Brett Gordon sees more secondaries opportunities ahead.
The firm’s oversubscribed Dover Street VIII fund surpassed its $3bn target and managing director Brett Gordon sees more secondaries opportunities ahead.