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The Canadian investor had brought a portfolio of private equity fund stakes to market in the first half of this year.

Details of the firm's latest secondaries vehicle were revealed in documents prepared for PSERS, which made its debut commitment to a fund managed by the GP.

The firm is putting together a 10-strong secondaries team, split between London and New York, to focus on vanilla deals as well as more complex processes.

Investments made by the firm's $2.7bn fund reveal high exposure to growth capital and China, according to its interim results.

Fundraising for private equity secondaries rose by more than one-third year-on-year, with Lexington's $2.7bn raise accounting for the lion's share of capital.

The Latin America-focused private equity firm is working with Park Hill on a potential process, Secondaries Investor has learned.

Michele Russo, a Doughty Hanson and Lazard veteran who joined the buyout firm as a managing director, has left after over one year in the role, Secondaries Investor has learned.

The vehicle is closing on up to €6.7bn target on the back of a stapled deal with Lexington Partners over the summer.

The plight of the Dallas Police and Fire Pension System, which has sold on the secondaries market as part of attempts to whittle down its alternatives portfolio, raises questions over governance and the risk for asset managers and advisors.

The private markets firm is two-thirds of the way to the $500m target for Fund VIII which can acquire stakes in funds focusing on the strategy.