Lexington Partners Announces Dedicated Strategy and Team to Lead Continuation Vehicle Transactions at Scale

Lexington Partners (“Lexington”) announced a dedicated strategy and team focused on leading single-asset continuation vehicle (“CV”) transactions. In conjunction with the launch, Christophe Browne has joined Lexington as a Partner to help lead the dedicated effort.

Lexington is one of the world’s largest and most successful managers of secondary private equity and co-investment funds having helped pioneer the development of the institutional secondary market over 30 years ago. The firm’s new CV strategy will be executed by a specialist team that will benefit from Lexington’s more than two decades experience investing in GP-led transactions, its broad deal-sourcing platform with over 800 sponsor relationships, and its rigorous diligence approach.

Christophe Browne was one of the founding members of the Strategic Equity business at Intermediate Capital Group (“ICG”), where he established himself as a leader in the continuation vehicle market. Mr. Browne previously was a Managing Director and Head of North America at ICG Strategic Equity and has specialized in leading large CV transactions for the past 10 years. He will operate out of Lexington’s newly established Miami office. The firm’s dedicated team, which will work exclusively on continuation vehicle transactions, includes several experienced Lexington investment professionals.

“We are delighted to welcome Christophe to Lexington as we build a dedicated Lexington team to focus on a best-in-class continuation vehicle investment strategy for GPs and capital allocators. Many of us at Lexington have known and respected Christophe for years,” said Wil Warren, Partner and President of Lexington. “While Lexington has long been an active participant in CV transactions, investing approximately $6 billion to date, we are now committing to a differentiated approach at scale to address the extraordinary growth we expect from this market segment.”

“I’m thrilled to join Lexington to help build a dedicated effort to capitalize on the growing market opportunity in CV transactions,” said Browne. “Lexington is committing the full resources and capabilities of its platform to the growth of this strategy. The firm’s scale, experience, GP relationships, and the fact that it has no conflicting buyout strategies, create distinct advantages to provide solutions in this growing segment of the secondary market.”