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Lexington Partners L.P.

Franklin Templeton closes $1.5B CFO tied partly to Lexington-managed exposure

August 20, 2026 press release Manager profile

Summary: Franklin Templeton announced the closing of Franklin Templeton Structured Solutions 2026, L.P., described as its inaugural $1.5 billion collateralized fund obligation. The source says the CFO provides exposure to private-equity secondaries and continuation vehicles managed by Lexington Partners, and to U.S. middle-market direct lending managed by Benefit Street Partners.

Why it matters: The update may matter to due-diligence readers as backfill context on Franklin Templeton private-markets structuring and Lexington-managed exposure inside a CFO, while it should not be used to infer suitability, demand, ratings quality, credit quality, returns, or investment merit.

9AT filing context: Use only narrow public ADV/profile identity background: Lexington Partners L.P. maps to CRD 147281, SEC file 801-71411, CIK 1621157, and about $79.3B in ADV-reported profile scale. No 13F or Form 5500 context is included because those filings do not explain the CFO structure or product economics.

Summary

Franklin Templeton announced the closing of Franklin Templeton Structured Solutions 2026, L.P., described in the release as its inaugural $1.5 billion collateralized fund obligation. The source says the CFO provides exposure to private-equity secondaries and continuation vehicles managed by Lexington Partners, and to U.S. middle-market direct lending managed by Benefit Street Partners.

This is August 20 backfill/product-structure context, not a fresh September 16 breaking-news item. This draft frames the update as Franklin Templeton private-markets structuring that includes Lexington-managed exposure; it does not make Lexington the sole issuer, sponsor, or manager of the collateralized fund obligation.

Why it matters

For due-diligence readers, a collateralized fund obligation can be a useful public signal about how private-markets exposure is being financed, packaged, and distributed across a larger asset-management platform. The Lexington-specific relevance is that the source names Lexington-managed private-equity secondaries and continuation-vehicle exposure as one component of the structure.

The signal is limited. The release supports the stated closing, size, structure label, and named manager exposures, but it does not let 9AT independently assess investor demand, diversification, ratings, credit quality, risk transfer, liquidity, suitability, performance, return expectations, or investment merit.

Source notes

9AT filing context

Public adviser/profile context maps Lexington Partners L.P. to CRD 147281, SEC file 801-71411, CIK 1621157, and about $79.3 billion in ADV-reported profile scale. That context is useful only to identify the adviser/platform behind the Lexington-managed exposure reference.

No 13F or Form 5500 context is included for this item. Public-equity holdings and retirement-plan filings do not explain the collateralized-fund-obligation structure, underlying private-fund exposure, financing terms, ratings, demand, returns, risk transfer, suitability, or investment merit.

What to watch

Watch for Franklin Templeton, Lexington Partners, Benefit Street Partners, rating-agency, regulatory, or investor-reporting updates that add source-backed details on the CFO’s collateral mix, payment structure, ratings, fund exposure, closing mechanics, or subsequent similar transactions.

Future coverage should preserve the backfill label and distinguish Franklin Templeton platform-level product structuring from standalone Lexington transaction news.

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