LGT Capital Partners announced it has completed the final closing of its flagship secondaries fund, Crown Global Secondaries VI (CGS VI), surpassing the original target size of $6 billion.
Utilizing 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. This fund received strong support from existing and new investors.
Utilizing its global investment platform, established relationships, and over 20 years of experience investing in the secondary market, LGT Capital Partners plans 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 nearly all private asset types, focusing on buyouts, growth equity, and venture capital. Regionally, CGS VI will invest in developed economies and opportunistically in emerging markets, utilizing the market coverage of LGT Capital Partners’ portfolio of over 3,000 private market funds.
LGT Capital Partners has been investing in the secondary market for over 20 years, and more than 430 transactions have been 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.
KEY QUOTES:
“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.”
-Ivan Vercoutère, Managing Partner and CIO at LGT Capital Partners
“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.”
-André Aubert, Partner and Co-Head of Secondaries at LGT Capital Partners
