LGT Capital Partners holds final close of Crown Secondaries Special Opportunities II at USD1.57bn
LGT Capital Partners has held the final close of Crown Secondaries Special Opportunities II (CSSO II), its second dedicated direct secondaries fund, with total subscriptions of USD1.57 billion.
The program’s investor base consists of more than 50 institutions, including pension funds, insurance companies, sovereign wealth funds, family offices and endowments in Europe, the United States, Asia, Australia and the Middle East.
Andreas Hellmann, Partner at LGT Capital Partners, says: “Interest in direct secondary transactions has grown very strongly over the last years. Having invested in the space as an early mover since 2015 and with a successful predecessor fund, CSSO II attracted strong appetite from investors and was oversubscribed. With a broad strategy providing partial liquidity and follow-on capital directly to companies as well as pursuing GP-led situations, the fund is well positioned to fully leverage our global platform to generate attractive investment opportunities in high quality companies.”
Ivan Vercoutère, Managing Partner at LGT Capital Partners, adds: “We are pleased to have raised substantial capital for our second direct secondaries program. With this larger pool of capital and increasing strong deal flow, we can select from an even broader set of opportunities and continue providing innovative liquidity solutions to private equity funds and managers. We have a proven track record and experience in providing flexible liquidity solutions for general partners and can be valuable partners in such transactions.”