Lexington Partners LP is planning to raise $2.5 billion for its fifth co-investment fund, Private Equity International reported.
The Minnesota State Board of Investment committed $300 million to the Lexington Co-Investment Partners V fund, according to the report, citing documents obtained from the pension fund.
The fund, which has a hard cap of $3 billion, will co-invest opportunistically in Asia- and Latin America-based businesses, according to the report.
The secondaries-focused private equity firm did not return requests for comment, the report noted.
