Fundraising

Tallahassee re-ups with Lexington

The Florida pension had previously committed to Lexington Partners' 2013 mid-market secondaries vehicle.

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City of Tallahassee Pension Fund has continued its support of Lexington Partners‘ funds with a commitment to the secondaries firm’s latest mid-market vehicle.

Tallahassee committed $15 million to Lexington Middle Market Investors IV, according to Kent Olson, the city’s deputy treasurer-clerk. The pension had previously committed the same amount to the predecessor, the 2013-vintage Lexington Middle Market Investors III, which closed on $1.1 billion.

New York-headquartered Lexington is seeking $2 billion for Lexington Middle Market Investors IV, which launched in September. Investors in the fund include Taiwan Life, which committed up to $50 million to the fund.

Tallahassee, which manages $1.5 billion in assets, has committed to other secondaries funds including Pomona Capital’s 2012-vintage Pomona Capital VIII, according to PEI data.