The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.

Lexington Partners
Lexington Partners, a manager of co-investment and secondary private equity funds, has held the final close of Lexington Co-Investment Partners VI, and associated vehicles, with committed capital totaling $4.6 billion.

The total fundraise has beaten both the fund’s $4.0 billion target and the $3.5 billion committed to its predecessor fund in 2021, Lexington Partners said in a statement this week.

CIP VI will continue the Lexington co-investment program's (Co-Investment Partners, or CIP) strategy of constructing diversified portfolios of equity co-investments alongside private equity and growth sponsors in North America, Europe, and rest of the world. 

"CIP VI received strong support from existing and new investors across North America, Europe, Asia, Latin America, and the Middle East, led by loyal institutional pension plans with the addition of major financial institutions, corporate pensions, endowments/foundations, and family offices,” Bart Osman, partner at the firm, said.

Since its inception in 1998, CIP has raised $15 billion of total committed capital and has invested more than $10.5 billion in 600+ co-investments alongside more than 200 sponsors. 

Lexington is the global secondary private equity and co-investments specialist investment manager of Franklin Templeton. 

Vestmark
Vestmark, which provides wealth management software and services, has inked a distribution partnership with Capital Group, the $2.6 trillion AuM asset manager.

Under the arrangement, RIAs can access a customizable platform of Capital Group model portfolios, available through their preferred custodian. Capital Group’s suite of exchange-traded funds, mutual fund and separately managed account (SMA) model solutions will now be available with Vestmark’s tax-overlay, implementation and trading services.

Vestmark said it supports six of the industry’s 10 largest managed account platforms, with $1.9 trillion in assets flowing through its platform. More than 65,000 advisors supported by Vestmark technology have access to a model marketplace with more than 1,600 strategies, it said.