A consortium led by global secondaries investor Lexington Partners has completed a US$1 billion secondary transaction to acquire stakes in TPG Asia V and TPG Asia VI, funds managed by global alternative investment firm TPG. The 2007-vintage TPG Asia V and 2013-vintage TPG Asia VI originally raised US$3.8 billion and US$3.3 billion in capital commitments, respectively. Global private investment firm Partners Group reportedly participated in the transaction, which also included commitments to TPG’s latest pan-Asia fund, TPG Asia VII. Additional financial details of the transaction were not disclosed.