Sydney, 24 September 2025: Franklin Templeton Australia1 is pleased to announce that the underlying fund for the newly introduced Franklin Lexington Private Equity Secondaries Fund has now exceeded US$1.2 billion (A$1.8 billion) in assets under management. This milestone reflects strong demand and appetite for private equity secondaries in an evergreen structure from a broad range of investors across Australia, APAC, EMEA, Canada and Latin America regions.
The Franklin Lexington Private Equity Secondaries Fund provides investors an opportunity to invest in an underlying diversified portfolio of private equity investments acquired through secondary transactions and co-investments within an accessible structure. Its focus on secondary investments, including limited partner (LP) and general partner (GP) led transactions, provides investors access to an asset class that was traditionally available only to institutions.
"We are pleased to see the response from the market towards this strategy. This is a strong endorsement of Lexington's capabilities in the secondaries space and our ability to deliver long-term growth opportunities to our clients in the wealth channel,” Felicity Walsh, Managing Director, Franklin Templeton Australia and New Zealand, said.
“Traditionally, alternatives were the domain of institutional investors, but our focus has been on making these capabilities more accessible for a broader range of investors. The acquisition of Lexington Partners was a strategic step in this journey, significantly enhancing Franklin Templeton’s alternative investment offerings. With the addition of world-class private equity secondaries and co-investment expertise to our A$400 billion global alternatives portfolio, we can now provide broader market access, more flexible structures and greater liquidity.
“Lexington brings a 30-year track record as a pioneer and global leader in secondaries, a deeply aligned culture, and proven capabilities that complement our own. The strong momentum of their first evergreen vehicle position sit among the most prominent new strategies in the private equity secondaries space, particularly within the wealth management channel.
“This partnership allows us to leverage Franklin Templeton’s extensive wealth adviser network alongside Lexington’s institutional strength, ensuring that Australian investors benefit from more sophisticated and accessible strategies. Our goal is to continue expanding these capabilities and delivering alternative investment solutions designed to meet the evolving needs of investors in the years ahead.”
Lexington Partners is one of the world’s largest and most successful managers of secondary private equity and co- investment funds. The firm helped pioneer the development of the institutional secondary market over 31 years ago and created one of the first independent, discretionary co-investment programs 27 years ago. Lexington's 26 partners are among the most experienced and highly regarded in the secondary market today, averaging 18 years together at Lexington.
For more information please visit: https://www.franklintempleton.com.au/our-products/capabilities/alternatives/solutions/franklin-lexington-pe-secondaries-fund
1Franklin Templeton Australia Limited (ABN76004835849,AFSL240827) (FTAL) is a part of Franklin Resources, Inc. and the Responsible Entity and issuer of the Franklin Lexington Private Equity Secondaries Fund.
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About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organisation with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialisation on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and A$2.5 trillion in assets under management as of 30 June2025. For more information, please visit www.franklintempleton.com.au and follow us on LinkedIn, Twitter and Facebook.
About Lexington Partners
Lexington Partners L.P (Lexington Partners) is one of the world’s largest and most successful managers of secondary private equity and co-investment funds. The firm helped pioneer the development of the institutional secondary market over 31 years ago and created one of the first independent, discretionary co-investment programs 27 years ago. Lexington has total capital in excess of US$82 billion (as of August 2025) and has acquired over 5,500 interests through more than 1,300 transactions. Lexington’s global team is strategically located in major centers for private equity and alternative asset investing across North America, Europe, Asia and Latin America. Lexington is the global secondary private equity and co-investments specialist investment manager of Franklin Templeton. Additional information can be found at https://www.franklintempleton.com.au/about-us/specialist-investment-managers/lexington-partners.
Important legal information
This press release is intended to be of general interest only and does not constitute professional advice. Franklin Templeton and its management groups have exercised professional care and diligence in the collection and processing of the information in this press release. Franklin Templeton makes no representations or warranties with respect to the accuracy of this document. Franklin Templeton shall not be liable to any user of this report or to any other person or entity for the inaccuracy of information contained in this press release or for any errors or omissions in its contents, regardless of the cause of such inaccuracy, error or omission.
Any research and analysis contained in this document has been procured by Franklin Templeton for its own purposes.
Franklin Templeton Australia Limited (ABN 76 004 835 849, AFSL 240827) (FTAL) is the Responsible Entity and issuer of the Franklin Lexington Private Equity Secondaries Fund. Neither FTAL, nor any other company within the Franklin Templeton group guarantees the performance of any Fund, nor do they provide any guarantee in respect of the repayment of your capital.
Before making an investment decision you should read the Product Disclosure Statement (PDS) and associated reference documents for the Fund carefully and you need to consider, with the assistance of a financial advisor, whether such an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. Further information relating to this Fund and the relevant PDS and associated disclosure documents and Target Market Determination can be found on www.franklintempleton.com.au or by calling 1800 673 776. Please consult your financial advisor before deciding to invest.
Prospective investors must be aware of the potential limitations in connection with their ability to redeem Units in the Fund. Neither the Responsible Entity nor the Investment Manager provide any guarantees concerning the liquidity of the Fund, the ability of an investor to redeem their Units, the value of their Units at redemption or the level of sell spread that may apply to a redemption.
The Responsible Entity considers the risk level of the Fund to be high. An investment in the Fund should not constitute a substantial portion of an investment portfolio and may not be appropriate for all investors. The Fund is designed for investors that have sought professional personal financial advice, have limited need for liquidity and are seeking total returns over the long term through capital appreciation and who are willing to accept fluctuations (sometimes significant) in returns in the short term. The Fund is not suitable for investors who need access to their investment in the short term. Investors should be aware of the limitations on their ability to withdraw from the Fund.