Lexington Partners

Lexington Partners is a major global manager of secondary private equity and co-investment funds.

Private markets secondaries and liquidity-solutions investor
Secondaries & Liquidity Solutions PEF
Tier I

Overview

Lexington Partners is a major global manager of secondary private equity and co-investment funds. The firm has been closely associated with the development of large-scale institutional secondaries and has completed transactions involving fund interests, portfolios, direct investments, and customized liquidity requirements.

Its secondaries activity is supported by extensive manager coverage, portfolio information, transaction experience, and the capacity to deploy substantial capital. These resources are important in large LP-led transactions where buyers must evaluate numerous funds and companies while providing sellers with a reliable path to completion. Within The Economy Wiki, the firm is connected to the Secondaries & Liquidity Solutions PEF market category.

Firm facts

Institution	Lexington Partners
Type	Private markets secondaries and liquidity-solutions investor
Headquarters	New York, United States
Founded	1994
Primary ranking focus	Secondaries & Liquidity Solutions PEF
Highest 2026 tier	Tier I

Contents

Activities and investment capabilities
Strategy and transaction coverage
Market position
Competitive context
Leadership and governance
Corporate and public information
Ranking recognition
Related Economy analysis
Related institutions and subjects
Sources

Activities and investment capabilities

Lexington became part of Franklin Templeton in 2022 but continues to operate as a distinct specialist private markets business. Its established brand, investment team, and secondaries franchise remain independently identifiable within the broader organization.

LP-led secondaries

Acquisition of fund interests and portfolios from existing limited partners.

GP-led solutions

Continuation vehicles and liquidity structures organized around selected assets or funds.

Portfolio finance

Structured capital and customized liquidity for private-market portfolios.

Strategy and transaction coverage

Strategy and sector coverage

Private equity; venture and growth; private credit; infrastructure and real assets

Transaction and ownership contexts

LP-led portfolios; GP-led transactions; continuation vehicles; direct secondaries; structured liquidity

Market position

Lexington Partners was included in Tier I in recognition of its transaction scale, long operating history, global reach, and central position in the institutional secondary market.

Lexington Partners is assessed within the Secondaries & Liquidity Solutions PEF framework. For wider market context, see Middle-Market Private Equity: Returns, Scale and Manager Selection.

Competitive context

Lexington Partners is recognized Tier I in Top 30 Secondaries & Liquidity Solutions PEF 2026. The ranking compares firms by institutional relevance, specialist capability, investment activity, operating depth and market positioning. Comparable-firm links below support navigation and do not imply that every institution competes for every transaction or asset.

Leadership and governance

Leadership, investment-committee composition and operating resources may change over time. Current information should be confirmed through Lexington Partners’s official website.

Leadership area	Current source
Investment and operating leadership	Current team and governance information

Corporate and public information

This profile refers to Lexington Partners as the public-facing investment organization. Individual funds, management companies, advisers and regulated entities may use separate legal names across jurisdictions.

Corporate and disclosure information

Organization	Lexington Partners
Headquarters	New York, United States
Public website	www.lexingtonpartners.com
Profile basis	Public institutional information and Capital Ranking editorial research