News
LGT Capital Partners completes final close of Crown Global Secondaries VI above target at more than USD 7 billion
LGT Capital Partners has completed the final close of its flagship secondaries fund, Crown Global Secondaries VI (CGS VI), exceeding the original target size of USD 6 billion. Drawing on the firm’s successful investment strategy for previous secondary funds, CGS VI aims to build a broadly diversified portfolio of private equity assets, acquired through limited partnership interests and complex fund solutions. The fund received strong support from existing and new investors.
Leveraging its global investment platform, established relationships and over 20 years of experience investing in the secondary market, LGT Capital Partners intends to construct a portfolio of more than 1,500 underlying companies for CGS VI’s investors. CGS VI will concentrate on high-conviction managers with high-quality underlying assets acquired through transactions with favorable deal dynamics. CGS VI is a global program capable of acquiring almost all private asset types, with a focus on buyout, growth equity and venture capital. Regionally, CGS VI will invest in developed economies and opportunistically in emerging markets, leveraging the market coverage of LGT Capital Partners’ portfolio of more than 3,000 private market funds.
Ivan Vercoutère, Managing Partner and CIO at LGT Capital Partners, commented: “We are grateful for the long-term trust and continued strong support that our investors have placed in us and our secondaries platform. The successful fundraising of CGS VI reflects the attractive opportunities and strong performance that we have continued to deliver across cycles in the secondary market over the past two decades. We continue to see high levels of deal flow across geographies, sectors and transaction types in a dynamic environment for liquidity solutions in the private equity market.”
André Aubert, Partner and Co-Head of Secondaries at LGT Capital Partners, stated: “We are very pleased with the strong demand and support for CGS VI, which is a testament to our established track record and ability to invest capital across portfolios of private equity funds and more complex GP-led transactions. We have and continue to actively invest across transaction types, benefitting from the growth of the GP-led market that represents today approximately 40% of the USD 130 billion secondaries market. Our experience in providing solutions to investors and GPs enables us to find high-quality deals in an ever-growing market.”
LGT Capital Partners has been investing in the secondary market for more than 20 years with more than 430 transactions completed to date. The Secondaries team has dedicated investment professionals in offices in Pfaeffikon (Zurich area), London, New York, Hong Kong and San Francisco, and can capitalize on the capabilities of LGT Capital Partners’ overall Private Markets investment teams, which comprise a total of more than 100 individuals.