The firm's latest flagship fund, the $22.7 billion LCP X, is the largest-ever secondary fund to have been raised.
The fund's predecessor, Strategic Partners Real Estate VIII, closed with $2.6 billion in capital commitments in 2023.
The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
The firm's $3.1 billion in Q3 secondaries inflows were driven primarily by its tenth private equity and ninth real estate secondary funds.
The reported capital pool forms part of the firm's broader $920 million fundraise across its venture investment strategies.
Pantheon Global Secondaries Fund VIII will target LP-led and GP-led transactions across the global middle market, with a particular focus on buyout strategies.
The firm closed its second vehicle for the strategy in January, securing $1.6 billion in capital commitments at its revised hard cap.
The fund's 2023-vintage predecessor closed with $212 million in capital commitments, according to SecondaryLink Data.
StepStone VC Secondaries Fund VII has already held its first close at $1 billion, with total capital commitments having exceeded $1.3 billion in August, according to SecondaryLink Data.
SecondaryLink outlines the IRR and TVM of several Lexington-managed secondary funds.
