Media release
LGT Capital Partners completes final close of Crown Secondaries Special Opportunities III at USD 3.0 billion
LGT Capital Partners has completed the final close of Crown Secondaries Special Opportunities III (CSSO III) at USD 3.0 billion, exceeding the original target size of USD 2.5 billion. The firm’s third dedicated direct secondaries fund provides liquidity solutions for private equity-owned companies.
Pfaeffikon, 4 June 2024. CSSO III acquires direct minority stakes in private equity-owned portfolio companies, finances M&A growth and participates in concentrated continuation vehicles. The program’s investor base includes pension funds, insurance companies, sovereign wealth funds, family offices and endowments in Europe, the US, Asia Pacific and the Middle East.
Andreas Hellmann, Partner at LGT Capital Partners, said: "Interest in direct secondary transactions has grown significantly in recent years. After a strong market focus on continuation vehicles, private equity sponsors are increasingly using a broader range of solutions to facilitate liquidity and longer holding periods for their best portfolio companies. Solutions that provide partial liquidity or follow-on capital directly at the company level are playing a growing role.”
Ivan Vercoutère, Managing Partner at LGT Capital Partners, added: “Following the success of our previous funds, we are pleased to see strong investor demand for CSSO III. As one of the largest pools of capital entirely focused on single-asset capital solutions, the program is ideally suited for private equity sponsors seeking innovative liquidity solutions.”
LGT Capital Partners was an early mover in direct secondaries and has completed 87 investments since 2015. The strategy leverages LGT Capital Partners’ broad network of over 700 private equity manager relationships and information from thousands of companies to identify attractive opportunities.
LGT Capital Partners
LGT Capital Partners is a leading global specialist in alternative investing with over USD 100 billion in assets under management and more than 700 institutional clients in 44 countries. An international team of over 800 professionals is responsible for managing a wide range of investment programs focusing on private markets, multi-alternatives and diversifying strategies, as well as sustainable and impact strategies. Headquartered in Pfaeffikon (SZ), Switzerland, the firm has offices in San Francisco, New York, Dublin, London, Paris, The Hague, Luxembourg, Frankfurt am Main, Vaduz, Dubai, Beijing, Hong Kong, Tokyo and Sydney.
Sebastian Kistner
Head of Corporate Communications
IMPORTANT INFORMATION
AuM is estimated and subject to change. Private market assets are stated in terms of committed capital. This marketing material was issued by LGT Capital Partners Ltd., Schuetzenstrasse 6, CH-8808 Pfaeffikon, Switzerland and/or its affiliates (hereafter "LGT CP") with the greatest of care and to the best of its knowledge and belief. LGT CP provides no guarantee with regard to its content and completeness and does not accept any liability for losses which might arise from making use of this information. The opinions expressed in this marketing material are those of LGT CP at the time of writing and are subject to change at any time without notice. If nothing is indicated to the contrary, all figures are unaudited. This marketing material is provided for information purposes only and is for the exclusive use of the recipient. It does not constitute an offer or a recommendation to buy or sell financial instruments or services and does not release the recipient from exercising his/her own judgment. This marketing material may not be reproduced either in part or in full without the written permission of LGT CP. It is not intended for persons who, due to their nationality, place of residence, or any other reason are not permitted access to such information under local law.
