Lexington Partners closes third co-investment fund at nearly $1.6 billion

Lexington Partners closed the $1.57 billion Lexington Co-Investment Partners III, according to a news release.

Investors include the $165.5 billion Florida State Board of Administration, Tallahassee, and the $95.1 billion New York State Teachers' Retirement System, Albany.

Lexington raised funds to augment the two pension funds' commitments, and has an average commitment size of $200 million among institutional investors based in the U.S., U.K., Continental Europe, South America and Australia.

Spokeswoman Rebecca John did not return phone calls by press time.