Wednesday, 20 August 2014
Last updated 3 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note