In the first article in the series, Antonio highlights that when the LGT Endowment was established in 1998, it was an early mover in Europe in the area of private and alternative assets. Today, the LGT Endowment’s allocation to private equity, private credit, real estate and infrastructure totals around 40%, while more than 20% is invested in liquid alternatives such as hedge funds and insurance-linked strategies. The remainder is invested in public equities and fixed income. Antonio explains that these allocations are aimed at creating a multi-asset, multi-alternatives portfolio with access to multiple, often low-correlated return streams.

In the second article, Antonio talks about LGT Capital Partners’ commitment to Asia-Pacific. He emphasizes that the region is an important and enduring part of the firm’s global allocation strategy. One area that is currently of particular interest is private equity secondaries, where he sees compelling relative value opportunities. In that area of the market, proximity both to GPs and to underlying assets is crucial, which is why he considers a local presence to be key. Antonio also touches on the importance of artificial intelligence for investment processes and portfolio construction.

In the third article, Antonio describes the firm’s three-layered risk management framework to ensure the LGT Endowment’s resilience. The first layer is strategic, setting the portfolio against an ex-ante risk budget diversified across economic and market risk factors. The second is structural, relying on low or uncorrelated asset classes, such as insurance-linked strategies and hedge funds, to build a more convex portfolio profile beyond the traditional equity-bond mix. The third layer involves scenario analysis and stress testing for low-probability but high-impact events, with a tactical allocation overlay enabling swift adjustments when conviction is high.

Read the articles (behind paywall) here: article 1, article 2, article 3.