GLOBAL - LGT Capital holds $268m first close of secondaries fund
LGT Capital Partners has held a first close of its global secondary fund, Crown Global Secondaries II (CGS II), on $268m.
The fund has a target of $750m and has already completed five transactions, acquiring a total of 13 fund interests with portfolio investments in the US, Europe and China.
LGT Capital Partners has been investing in secondaries for over 10 years, and over that period the firm has achieved a 25% IRR (without the use of leverage in completing transactions) on $1.3bn of secondary investments.
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