Franklin Templeton has launched its first open-end fund focused on secondary private equity investments.
Co-advised by Franklin Templeton and Lexington Partners, the Franklin Lexington Private Markets Fund (FLEX) provides simplified access to a diversified portfolio of private equity investments acquired through secondary transactions and co-investments in new private equity transactions alongside leading sponsors.
Designed for wealth channel clients seeking long-term growth opportunities, FLEX offers access to an asset class that until recently was primarily available to institutional investors. The new fund comes to market with $904.5 million in assets under management through an initial partnership with two leading U.S.-based wealth management firms.
“Heading into 2025, selecting the right investment partner is more important than ever,” said Wil Warren, partner and president of Lexington Partners, a specialist investment manager of Franklin Templeton.