LGT raises $1bn

The Swiss manager closes its fourth Asia-focused fund of funds at its hard cap.

LGT Capital Partners has held a final close of its fourth Asia-focused fund of funds, Crown Asia-Pacific Private Equity IV, at a hard cap of one billion dollars. The fund targets small- and mid-market private equity firms across the Asia-Pacific region.

The fund has gathered more than 50 investors since launching in December 2017. Pension funds, university endowments and insurance companies across North America, Australia, the Middle East and Europe committed to the fund.

The Employees Retirement System of Texas committed $325 million to the fund.