LGT closes third global secondaries fund at $2b

The LP base consists of more than 80 institutions including sovereign wealth funds, government pension funds, corporate pension funds, insurance companies, endowments and foundations. 

Half of the investors are based in continental Europe, 19% in Asia-Pacific, 14% in North America, 12% in the UK and 5% in the Middle East.

"Given the differentiated strategy of the predecessor fund, there was very strong demand for the offering, both from existing and new investors." Tycho Sneyers, managing partner at LGT, said in a statement "We capped the fund at $2 billion, and it ended up significantly oversubscribed."

LGT currently has around $25 billion in assets under management and more than 300 institutional clients. Its last global secodnaries vehicle, Crown Global Secondaries II , had its final close in June 2010 after reaching total subscriptions of $1.2 billion, surpassing its initial $750 million target.

LGT says CGS III has already completed several transactions, continuing with the same investment strategy of its predecessor fund.
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• Topics
• Fundraising
• Secondaries
• LGT Capital Partners
• Fundraising
• Secondaries