Wednesday, 1 October 2014
Last updated 13 min ago
Jun 24 2010 | 12:43pm ET
LGT Capital Partners has closed its second private equity secondaries fund with US$1.2 billion in commitments, US$450 million more than the firm had originally planned.
The Pfäffikon, Switzerland-based firm had initially planned to raise only US$750 million for Crown Global Secondaries II. But strong demand and a consistent pipeline of opportunities convinced the firm to increase its target following its first close in August.
“And even with the increased target size, the fund ended up significantly oversubscribed,” LGT’s Tycho Sneyers said.
The new fund has already bought stakes in 50 p.e. funds across 20 transactions, Ivan Vercoutere, another partner at the firm, said.
“These transactions have performed very well and we believe our disciplined approach of acquiring high-quality assets through mid-sized transactions will continue to achieve attractive returns,” Vercoutere said.
Institutional investors from Europe, North America and Asia-Pacific make up the bulk of the new fund’s investors.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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