Rapid Growth in Firm’s First Continuously Offered Private Equity Secondaries Strategy Highlights Strong Demand from Global Wealth Channel
SAN MATEO, Calif.–(BUSINESS WIRE)–Franklin Templeton today announced that its Franklin Lexington PE secondaries strategy1 has exceeded $3.5 billion in assets under management (AUM) in less than one year since its launch. This significant milestone underscores the strong and growing demand among global wealth channel clients for institutional-quality private markets solutions that offer the potential for long-term growth and diversification.
The Franklin Lexington PE secondaries strategy represents the firm’s first continuously offered strategy dedicated to secondary private equity investments and is available to investors globally. Initially launched to U.S. investors in December 2024, the strategy is advised by Franklin Templeton and sub-advised by Lexington Partners (“Lexington”), a pioneer in the private equity secondary and co-investment markets. In March 2025, the strategy was extended to international investors in Europe, the Middle East, Latin American and APAC, further broadening access to private markets globally.
“We are proud to partner with Franklin Templeton on this innovative strategy and broaden access to the secondary market for a wider range of investors,” said Wil Warren, Partner and President of Lexington. “This milestone demonstrates the strong demand for high-quality private markets exposure and validates our industry-leading secondary platform that combines our market leadership and expertise with Franklin Templeton’s global distribution capabilities. We look ahead with a continued focus on delivering value to our clients as the strategy grows.”
The Franklin Lexington PE secondaries strategy is designed to provide 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, leveraging Franklin Templeton’s global private markets wealth platform. Its innovative structure aims to allow financial advisors and their clients to participate in investment opportunities traditionally reserved for large institutions.
“We believe the secondary market offers compelling long-term growth potential, and Franklin Lexington PE secondaries strategy seeks to provide diversified exposure to high-quality private equity investments within that market,” said George Stephan, Global Chief Operating Officer of Wealth Management Private Markets at Franklin Templeton. “We remain committed to our goal of delivering innovative solutions that empower financial advisors and their clients to achieve long-term goals with greater diversification and potential for enhanced returns. This milestone marks not only an exciting chapter for the Franklin Lexington PE secondaries strategy, but also a powerful validation of the momentum building across the global Franklin Templeton Private Markets platform. We look forward to building on this growth in the years ahead.”
In addition to global secondary private equity and co-investments, Franklin Templeton’s global alternative asset strategies include specialist investment managers focused on private real estate through Clarion Partners and private credit via Benefit Street Partners as well as hedged strategies, venture capital and digital assets. The firm’s alternatives assets represent 16% ($275 billion) of Franklin Templeton’s $1.7 trillion in total assets under management as of January 31, 2026.
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| 1 References herein to “Franklin Lexington PE secondaries strategy” include both Franklin Lexington Private Markets Fund and Franklin Lexington PE Secondaries Fund. |
About Lexington Partners
Lexington Partners is one of the world’s largest and most successful managers of secondary private equity and co-investment funds, with over $82 billion of total capitalization. The firm helped pioneer the development of the institutional secondary market over 35 years ago and created one of the first independent, discretionary co-investment programs 27 years ago. Lexington provides strategic, customized liquidity solutions to global investors and private equity sponsors alike, supported by its dedicated and well-capitalized secondary, continuation vehicle, and co-investment platforms. Lexington’s experienced professionals are 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 lexingtonpartners.com.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnerships, forward-looking insights, and continuous innovations – providing the tools and resources to navigate change and capture opportunity.
With more than $1.7 trillion in assets under management as of January 31, 2026, Franklin Templeton operates globally in more than 35 countries.
To learn more, visit franklintempleton.com and follow us on LinkedIn
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Franklin Templeton Media Contacts:
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Lexington Partners Media Contact:
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