LGT closes Crown Co-investment Opportunities II on $1.3bn

Paul Tilt
17 May 2019

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Swiss alternative asset management firm LGT Capital Partners has held a final close of $1.3bn for its second dedicated co-investment fund Crown Co-investment Opportunities II (CCO II).

Launched in January 2017, the closed-ended vehicle – which focuses on co-investments in buyouts in Europe, the US and Asia – was oversubscribed.

The closing is a significant uptick on the manager's prior co-investment vehicle, Crown Co-investment Opportunities, which closed on $432m in February 2015.

According to a report seen by Unquote, the fund has an investment period up to January 2022 and a 10-year term, with up to three one-year extensions.

As of June 2018, the fund had committed $404m across 16 private equity co-investments, predominantly in Germany, the US and the UK.

Investors
Commitments to the fund came from an investor base of more than 40 institutions, including pension funds, insurance companies and endowments in Europe, the US, Latin America, Asia, Australia and the Middle East.

Investments
The fund will focus on co-investments in buyouts in Europe, the US and Asia, investing alongside fund managers in LGT's global network.

People
LGT Capital Partners – Ivan Vercoutere (managing partner).