Lexington Partners raises $2.9bn

The New York firm has raised capital for its fifth co-investment fund.

Fund name: Lexington Co-Investment Partners V
Amount raised: $2.9 billion
Target size: $2.5 billion
Predecessor fund: Lexington Co-Investment Partners IV ($2.4 billion)

Lexington Partners has raised $2.9 billion for Lexington Co-Investment Partners V. Capital raised for the vehicle will be used to invest in companies throughout North America, Europe and Asia across diversified sectors.

Lexington Co-Investment Partners V received commitments from several institutional investors, including $300 million from Minnesota State Board of Investment, $200 million from Florida Retirement System Trust Fund and $345 million from Maryland State Retirement and Pension System.