Thursday, 27 November 2014
Last updated 19 hours 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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...