Lexington Buys $730M In Lloyds Private Equity Assets

Law360, New York (December 16, 2010, 1:42 PM EST) -- Private equity investor Lexington Partners has agreed to buy a portfolio of limited partnership interests in 33 private equity funds worth roughly £470 million ($730 million) from certain subsidiaries of Lloyds Banking Group PLC.

Terms of the transaction, which is expected to close early in the first quarter of 2011, were not disclosed in Lexington's Wednesday announcement.

“Lexington is pleased to have reached agreement with Lloyds to acquire a portfolio of high-quality private equity fund investments,” Marshall Parke, managing partner of Lexington’s international activities, said. “With...
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