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Secondaries

We have been at the forefront of the evolving secondary market for more than two decades. Our broadly diversified secondaries strategy aims to achieve capital appreciation by investing in a global portfolio of predominantly mid-sized private equity transactions across Limited Partner stakes and General Partner-led secondaries.

21-year

track record

USD >27bn

of commitments acquired

>440

transactions completed

What we do

As an experienced investor in the secondary market, we work with Limited Partners and General Partners to build portfolios of high-conviction funds and high-quality underlying companies in transactions with advantageous dynamics. We use our information advantage to source and price deals through our local teams in Europe, the US and Asia Pacific – leveraging LGT Capital Partners’ global private markets platform.

Our strong, longstanding private markets capabilities allow us to offer flexible and innovative solutions to General Partners and sellers alike. Our expertise also means that we can complete transactions swiftly and discretely.

Our approach – why partner with us

As an active investor in the secondary market since 1998, we have built long-term relationships with a wide network of contacts among private equity managers that fosters continued attractive deal flow. Our private equity platform enables us to leverage the insights and expertise of our team to source, analyze and monitor investments across all the regions where we invest.

Our track record of strong performance across different cycles of the private equity market demonstrates our ability to deliver returns to investors – drawing on our key strengths and experience, including:

  • Integrated private equity team and platform – We leverage our global platform to source, assess and execute transactions. We are invested in more than 2,600 funds and actively participate in more than 350 advisory boards.
  • Differentiated investment strategy – Our rigorous due diligence process focuses on a bottom-up, company-by-company valuation approach across Limited Partner stakes and General Partner-led secondaries.
  • Attractive risk profile – We manage risk by constructing diversified portfolios of mid-sized secondary transactions and limiting the use of leverage and structuring. We strive to maintain a low transaction loss rate across our secondary transactions.  

Team – experienced and diverse secondaries specialists

Our Secondaries team comprises more than 15 senior investment professionals with an average of 16 years of industry experience and an average tenure of 12 years at the firm. Our Secondaries team is among the most diverse in the industry, with a good gender balance within the Partner/Principal group and close to 15 nationalities represented.

Aubert_André

André Aubert

Partner

Sandro Basso

Sandro Basso

Principal

DiGeronimo Andrew

Andrew DiGeronimo

Partner

Gruber_Sascha

Sascha Gruber

Partner

Guo_Yan

Yan Guo

Principal

Heitmann_Martha

Martha Heitmann

Partner

Janssen_Felix

Felix Janssen

Partner

Wetter_Pauline

Pauline Wetter

Partner

Zacharias_Clelia

Clelia Zacharias

Principal

Brooke Zhou

Brooke Zhou

Partner

Zacharias_Clelia

Part of the growth story

"It has been a privilege to be part of the growth story at LGT Capital Partners and our US private equity secondaries business. When I joined the firm in 2013, the secondary market had an annual transaction volume of around USD 30 billion. It has since grown to over USD 120 billion a year. Our consistent secondary strategy seeks to generate attractive returns by providing liquidity to private equity investors in an otherwise illiquid asset class. We continue to focus on the middle market, which aligns well with our core primary investment capabilities."

Clelia Zacharias

Principal

Basso_Sandro

Creating sustainable value through innovative solutions

"Sourcing and executing secondaries transactions is all about being quick and nimble while having the right fundamentals. I appreciate the long-term thinking of our shareholder, which is aligned with our efforts to create sustainable value through innovative solutions."

Sandro Basso

Principal