LGT Capital Partners buys real estate fund of funds Clerestory Capital

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Switzerland’s LGT Capital Partners has acquired Clerestory Capital Advisors, a New York-based real estate-focused investment and advisory firm.

Established in 2007 by Joanne Douvas and Tommy Brown, CCA launched its first fund of funds the same year focusing on small, opportunistic real estate funds on a global basis.

Roberto Paganoni, CEO of LGT Capital Partners, said, “We are convinced that this acquisition will bring benefits to clients of both organisations.

“Acquiring CCA will enhance our investment expertise in the real estate market and enable us to broaden and strengthen our multi-alternatives investment firm.”

Douvas added, “CCA is very pleased to join LGT Capital Partners in order to benefit from a global institutional investment platform, enhanced opportunities within product development and additional resources for further developing its client base.”

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