The Johannesburg-based investment firm has assumed management of assets from three African funds, expanding its secondaries and portfolio management platform.
Former Mubadala Capital executive Lucas Radal joins MCP as Head of Middle East Secondary Investments in Abu Dhabi.
The LP interests were reportedly priced at a discount of more than 10% and included software and other tech-focused buyout funds.
The business brings the Swiss investment firm's Independent Sponsors and Secondaries strategies under a unified roof.
In this episode of the 'How I Invest' podcast, Host David Weisburd speaks with ICG's Ryan Levitt on why secondaries have evolved into one of the most attractive areas in private markets.
The acquired portfolio comprised 30 investments across four African funds spanning financial services, consumer/FMCG, infrastructure, and light manufacturing.
The announcement comes as investors in Blue Owl's non-traded BDC shunned an earlier Saba and Cox Capital joint-offer to repurchase shares at a steep discount.
The Asia-secondaries specialist also named Umang Agarwal as Managing Director and Co-Head of India for its newly opened Bangalore office.
In 2023, the New York-based alternative asset manager launched its Strategic Equity Strategy focusing on single-asset CVs.
"Opening in Abu Dhabi represents a natural extension of Lexington's global platform and builds upon our long-term relationships across the Middle East," said Lexington President Wil Warren.
