LGT Closes Second Secondaries Fund At $1.2B

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.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR