LGT Capital Partners has closed Crown Global Secondaries III, its third global private equity secondary fund, reaching a total of $2 billion. The program’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.
LGT Capital Partners is pleased to announce the final close of Crown Global Secondaries III plc (CGS III), its third global private equity secondary fund, with total subscriptions of USD 2.0 billion. The program’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.
Tycho Sneyers, Managing Partner at LGT Capital Partners, comments: “Given the differentiated strategy of the predecessor fund, there was very strong demand for the offering, both from existing and new investors. We capped the fund at USD 2.0 billion, and it ended up significantly oversubscribed.”
Ivan Vercoutere, Managing Partner at LGT Capital Partners, adds: “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.”
About LGT Capital Partners
LGT Capital Partners is a leading alternative investment specialist with over USD 25 billion in assets under management and more than 300 institutional clients. A large, international team is responsible for managing a wide range of investment programs focusing on private markets, liquid alternatives and multi-asset class solutions. Headquartered in Pfaeffikon (SZ), Switzerland, the firm has offices in North America, Europe and Asia.
Tel: +41 55 415 9600