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Secondary investing

LGT Capital Partners has been providing liquidity solutions to private equity investors since 1998, acquiring 440 underlying limited partnership interests representing original commitments in excess of USD 3.3 billion. Our experience in secondary transactions and our deep investment expertise in private equity allows us to acquire portfolios on a global basis, focusing on: 

• Buyout, growth capital and venture capital funds
• European, US and Asian assets
• Special situations, such as unfunded positions, direct secondaries and stapled transactions

Purchasing private equity fund investments on the secondary market has historically produced attractive risk-adjusted returns and LGT CP believes that this will continue because secondaries:

• comprise a large and growing market – it is expected to continue expanding in line with the growth of primary commitments over the past five years, further driven by private equity investors who access the market to manage their portfolios
• offer the opportunity to acquire quality assets at attractive prices – a growing pool of sellers with liquidity needs enables buyers like LGT CP to acquire assets at attractive prices
• provide rapid exposure to high quality private equity assets – investors gain access to funds that were not available when originally raised and that contain high-performing underlying companies which are closer to exit
• enable investors to mitigate the private equity J-curve – secondary assets have already gone through the J-curve, enabling investors to realize returns much faster than with primary investing