Mon, 18/02/2013 - 18:59
LGT Capital Partners has held the final close of Crown Global Secondaries III (CGS III), its third global private equity secondary fund, with total subscriptions of USD2.0 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 (pictured), Managing Partner at LGT Capital Partners, says: “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, says: “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 recognised 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.”
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