The private debt arm of LGT Capital Partners has raised €1.35bn for the final close of its Crown European Private Debt II vehicle.
LGT European Capital was initially targeting €800m for the fund, but was able to surpass the amount after securing commitments from 60 institutions.
It will use the fund to target investments ranging in value from €15m to €150m, in the form of unitranche and subordinated debt deals.
The firm will now operate under the LGT Private Debt brand, it added.
LGT Private Debt, Paris partner Stéphane Legrand said, “In making debt investments for our clients, we focus on opportunities with a strong credit profile and clear visibility on multiple sources of value creation, while ensuring strong downside protection.
“Our large network of established relationships with sponsors (private equity investors) as well as intermediaries provides us with the quality and quantity of deal flow required to re-main highly selective in investing.”
LGT was founded in 2005, and has since invested more than €3bn in 93 deals. The firm now has $60bn of assets under management.
Earlier this year the Swiss fund of funds and secondaries specialist hit a $1.3bn final close for its second dedicated co-investment vehicle.
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