Lexington Partners said Wednesday that it has agreed to buy a PE portfolio worth £470 million (US$730 million) from Lloyds Banking Group. The deal is expected to close in first quarter. Financial terms weren’t disclosed. Lexington, of New York, is a secondary firm.
PRESS RELEASE
Lexington Partners (“Lexington”) today announced it has entered into a definitive agreement to acquire a portfolio of approximately £470 million (US$730 million) of limited partnership interests in 33 private equity funds from certain subsidiaries of Lloyds Banking Group plc.
