Lexington Partners L.P. ("Lexington") is a leading global alternative investment manager primarily involved in providing liquidity solutions to owners of private equity and alternative investments and in making co-investments alongside leading private equity sponsors. Lexington is the largest independent manager of secondary acquisition and co-investment funds with more than $37 billion in original committed capital. Since 1990, Lexington has acquired over 2,700 interests in funds managed by over 650 sponsors with a total value in excess of $36 billion, including $12 billion of syndications.
As it relates to 01.1, "Fund Management" refers to Lexington's co-investment funds, which invest alongside lead sponsors in buyout and growth capital portfolio companies, primarily in minority positions. "Fund of funds, manager of managers, sub-advised products" relates to Lexington's secondary acquisition funds, which invest in limited partnership interests in underlying funds managed by global sponsors. Both investment strategies are passive in nature with limited ability to manage ESG factors at the portfolio company level.