This week’s column focuses on Lexington Partners, which has been marketing the eleventh vintage of its flagship secondary fund for at least a year. The fund, Lexington Capital Partners XI, may soon be ready to close its first round of fundraising. It signed up for a credit line backed by investor commitments in March and added a second “Euro” affiliate as a borrower in late June.
Similarly, KKR & Co. obtained a subscription credit line for the fifth version of its Asia private equity fund, which is targeting a capital raise of $15 billion or more. And a little-known fund manager called Obsidian Creek Capital arranged financing to buy receivables backed by film and television revenues.
After that, there’s a table listing other funds that recently obtained subscription credit lines.