Secondary Investments Leading Secondary Manager Lexington’s secondary funds have been organized to acquire global private equity interests through negotiated secondary market transactions. CAPITALIZATION $45+ billion LIMITED PARTNERS More than 1,000 investors in over 40 countries TARGET TRANSACTIONS Partnership portfolios, GP-led transactions, secondary co-investments, secondary directs, hedge fund private equity assets, and captive spin-outs INVESTMENT SIZE Complex, multi-billion dollar portfolios to single interest acquisitions Advantages of Selling Lexington’s secondary funds enable investors whose financial situations or investment strategies have changed to: Sell otherwise illiquid assets Obtain cash for their capital accounts from a funded buyer Transfer obligations to fund capital commitments to a reputable substitute limited partner Rationalize sponsor relationships based on investment results and portfolio objectives Eliminate or reduce the managerial task and overhead associated with monitoring private equity investments Rebalance portfolios as investment and liquidity objectives change Manage private equity and alternative assets in a more active manner as with other investment portfolios We believe we’re an ideal counterparty for most sellers and sponsors. We’re big enough to offer total solutions, and broad enough to be nimble. $45+ Billion of total committed capital 123 Why Work With Lexington? Lexington Partners is the leader in the global secondary market because: We provide liquidity solutions to investors We are independent We are responsive We are a strong counterparty We maintain an extensive database of private information We submit reliable bids We can facilitate strategic corporate reorganizations We assist in the transfer process We are discreet We excel at closing deals We are an attractive substitute limited partner The long-term nature of private equity and alternative investments can present secondary market opportunities when factors such as portfolio rebalancing, government regulation, overallocation, and general liquidity needs give rise to investors actively managing their private investment allocations. Lexington’s counterparty reputation, breadth of relationships and strength of capital are widely recognized by global sellers. CASE STUDIES Lexington Partners completes transactions with pension engaged in active management A large U.S. public pension fund sold a $1.9 billion portfolio of buyout, venture capital, and debt-related fund interests to create liquidity for reinvestment. Lexington analyzed the entire portfolio of 35 funds managed by 27 GPs and, through a series of negotiations, reached agreement to acquire a select portfolio of four high-quality interests where we had differentiated GP access and informational advantages. Including four other transactions completed over a seven-year period, Lexington has acquired secondary interests from this seller with an aggregate value of over $660 million. As a proven counterparty with low execution risk, we believe Lexington is well positioned to complete additional transactions with this seller. 123456 * The case studies above are for informational purposes only and are intended to be illustrative of some investment techniques and strategies that may be used by Lexington and are not representative of all transactions of a given type or of investments generally. SECONDARY INVESTMENT CONTACTS New York Boston Menlo Park London Hong Kong Santiago TERMS OF USE PRIVACY POLICY CONTACT © 2021 Lexington Partners L.P. All Rights Reserved.