LGT completes European Capital acquisition

The firm had previously announced the deal to acquire the debt fund manager in March

LGT Capital Partners, the Swiss-based asset manager, has finalised the acquisition of European Capital Fund Management, according to a company statement.

LGT announced it had entered into an agreement to acquire European Capital in March, anticipating the deal would close during Q2 2017. European Capital was formerly part of American Capital which was acquired by Ares Capital in 2016 for a reported $3.4 billion. 

Terms of LGT’s acquisition could not be determined by press time. 

European Capital manages two private debt funds. The firm announced it had completed a final close on its European Capital Private Debt Fund in April 2016, raising €473.5 million. It also manages a UK-focused SME fund. 

The management teams for these offerings will remain in place following the acquisition, LGT’s announcement notes.