Lexington Partners’s Secondary Transaction with TPG Asia


Simpson Thacher represented Lexington Partners in a secondary liquidity transaction for capital commitments to TPG’s fifth and sixth Asia funds.

In aggregate, the transaction represented a total capital commitment of approximately $1 billion. Lexington Partners was the lead investor and acted as the representative of the buyer group that consummated the transaction.

Lexington Partners is a leading global alternative investment manager primarily involved in providing liquidity to owners of private equity and other alternative investments and in making co-investments alongside leading private equity sponsors. Lexington Partners is the largest independent manager of secondary acquisition and co-investment funds with more than $38 billion in committed capital.

The Simpson Thacher team included Mark Pflug (Picture), James Parry and Amanda Ng (M&A); Barrie Covit, Steven Klar, Carolyn Houston, Yordanosse Yenenh and Grant Griffith (Funds); and Jonathan Goldstein and Brian Mendick (Tax).

Involved fees earner: Barrie Covit – Simpson Thacher & Bartlett; Jonathan Goldstein – Simpson Thacher & Bartlett; Grant Griffith – Simpson Thacher & Bartlett; Carolyn Houston – Simpson Thacher & Bartlett; Steven Klar – Simpson Thacher & Bartlett; Brian Mendick – Simpson Thacher & Bartlett; Amanda Ng – Simpson Thacher & Bartlett; James Parry – Simpson Thacher & Bartlett; Mark Pflug – Simpson Thacher & Bartlett; Yordanosse Yenenh – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Lexington Partners Inc.;

Author: Michael Patrini