Swiss alternative investment firm LGT Capital Partners has announced the final close of Crown Global Secondaries V (CGS V), its fifth private equity investment programme investing globally in secondaries, at a hard cap of $4.5 billion.
Investors included over 100 institutions, including pension funds, endowments, insurers, sovereign wealth funds, family offices, and financial institutions in Europe, the Americas, the Middle East, Asia, Australia, and New Zealand.
“With CGS V, we continue to see increasing appetite from institutional investors globally for secondaries, together with our successful investment strategy and results from predecessor funds. The opportunity set of investments continues to grow substantially, with fund solutions becoming as ubiquitous as sales of limited partnerships a decade ago. We are well-positioned in this environment by leveraging our global investment platform,” said André Aubert, partner at LGT Capital Partners.
Headquartered in Pfaeffikon, Switzerland, LGT Capital Partners has been present in the Asia-Pacific region since 1998. It focuses on private markets, liquid alternatives, and multi-asset class solutions. The firm has offices in New York, Dublin, London, Paris, Vaduz, Dubai, Beijing, Hong Kong, Tokyo, and Sydney.
In May, the firm announced that it raised $6 billion to capture investment opportunities in private equity secondaries across the whole spectrum of investment situations including single-asset solutions, private equity fund solutions, and diversified portfolios of Limited Partnership interests.
In 2019, LGT Capital Partners raised $1 billion for its fourth private equity fund that will invest in the Asia-Pacific region.
Crown Asia-Pacific Private Equity IV closed at a hard cap of $1 billion, well above the $586 million that the firm raised for its third fund in 2014, adding to the over $60 billion that LGT Capital manages.