Wilson S. "Wil" Warren was promoted to president of alternative investment manager Lexington Partners.
It is a new position.
Mr. Warren replaces Brent R. Nicklas, founder, who is now in the new role of non-executive chairman and will no longer be actively engaged in the firm's operations, a news release said.
Mr. Warren, who is retaining the title of partner, and Pal B. Ristvedt, partner, have been named co-chairmen of Lexington's secondary investment committee. Marshall W. Parke, partner, has been promoted to vice chairman.
"Having been part of Lexington Partners for nearly 25 years, I am humbled by the responsibility I am assuming in this new role and could not be more excited to partner with Pal and the entire Lexington team to maintain Lexington's leadership position in our investment strategies in the secondary and co-invest markets," Mr. Warren said in the news release.
Lexington has $38 billion in total committed capital.