Franklin Templeton, an investment management organization, completed the acquisition of Lexington Partners, an independent manager of secondary private equity and co-investment funds, for $1.75bn. “We could not be more excited to welcome Lexington and its world-class team. This acquisition will position us to capitalize on the highly sought after secondary private equity market, an area of growth that complements Franklin Templeton’s existing alternative asset capabilities to meet the growing appetite of our clients for alternative asset management around the globe,” Jenny Johnson, Franklin Templeton President and CEO.