LGT Capital Partners Closes Secondaries Fund at $2 Billion
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LGT Capital Partners Closes Secondaries Fund at $2 Billion

LGT Capital Partners has held a final close of Crown Global Secondaries III, its third global private equity secondary fund, with total capital commitments of $2 billion.

The new fund’s investor base consists of more than 80 institutions and includes sovereign wealth funds, government pension funds, corporate pension funds, insurance companies, endowments and foundations. 50% of the investors are based in continental Europe, 19% in the Asia‐Pacific region, 14% in North America, 12% in the UK and 5% in the Middle East.

“Given the differentiated strategy of the predecessor fund, there was very strong demand for this offering, both from existing and new investors. We capped the fund at $2 billion, and it ended up significantly oversubscribed,” said Tycho Sneyers, Managing Partner at LGT Capital Partners.

LGT Capital Partners has over $25 billion in assets under management and more than 300 institutional clients. The firm has 190 investment professionals and is headquartered in Pfaeffikon, Switzerland with additional offices in New York, London, Dublin, Hong Kong, Tokyo and Beijing (www.lgt-capital-partners.com).

“In an increasingly challenging and competitive market, we remain focused on building the highest quality portfolios for our investors, and continuously strive for our secondaries platform to be recognized as a most thoughtful and valuable franchise within the private equity industry. CGS III has already completed several unique transactions, continuing the successful investment strategy of our predecessor fund raised in 2009,” said Ivan Vercoutere, Managing Partner at LGT Capital Partners.

© 2013 PEPD • Private Equity’s Leading News Magazine • 2-19-13

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