Franklin Templeton has launched Franklin Templeton Structured Solutions 2026, a new vehicle packaging private equity secondaries and continuation funds managed by Lexington Partners with US middle-market direct lending from Benefit Street Partners, offering investors a single diversified route into both strategies.

A New York private equity firm has raised a new fund to extend its buy-and-build strategy in the US lower middle market, targeting industrial services and business services companies. The fundraise secured commitments from existing and new investors including pensions, asset managers, insurers, foundations, and family offices.

Jefferies has launched a fund to acquire loans from its own existing portfolio and provide fresh capital for new lending, allowing the manager to free up cash. The vehicle is structured as a continuation vehicle, or staple deal. It will comprise about $580m (€500m) of investor equity alongside a similar amount of leverage, giving it roughly $1.16bn of buying power.