Lexington Partners, a manager of secondary acquisition funds, has held the final close of Lexington Capital Partners X with $22.7bn of capital commitments, in excess of its original $15bn target.

Azalea Investment Management has held the first closings of the Altrium Co-Invest Fund I and Altrium Growth Fund I with a combined $356m in capital commitments from institutions, family offices and high-net-worth individuals.

Four of New York City’s five public employee pension funds, catering for teachers, police officers, firefighters and civil servants, are to up their allocations to private equity and other illiquid asset classes, as they look to boost investment returns, according to a report by Bloomberg.

Blackstone’s first ever private equity fund aimed at wealthy individuals – private investors with more than $5m to invest – has raised $1.3bn despite a delayed launch, according to a report by Bloomberg.

Leavitt Equity Partners, a value-add healthcare focused private equity firm, has closed its third fund, Leavitt Equity Partners III, with over $180m in capital commitments ahead of its initial $150m target.

Banner Ridge Partners, a $7.3bn multi-strategy private equity investment firm, has completed fundraising for Banner Ridge Secondary Fund V, which closed at its hard cap with $2.15bn of total commitments.