Lexington Said in Exclusive Talks to Buy Irish Pension Assets

Lexington Partners Inc., one of largest firms dedicated to buying private-equity interests, is in exclusive talks to buy a 600 million euros ($820 million) portfolio of U.S. and European private equity funds from Ireland’s National Pensions Reserve Fund, said a person familiar with the situation.

A spokeswoman for Lexington based in New York did not immediately respond to telephone requests seeking comment, while David Clerkin, a spokesman for the Dublin-based fund, declined to comment.

Ireland’s government in June proposed legislation to transition the NPRF to a newly-created Ireland Strategic Investment Fund, which will refocus the fund’s mandate on Ireland. In line with these changes, NPRF will transition its global portfolio of equities, bonds and alternative assets into the ISIF over several years, the fund has said.

Lexington reached an accord to buy the private equity assets, Dow Jones reported today, citing two unidentified people.

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