LGT Private Debt raises €1.35bn

The private debt arm of LGT Capital Partners closes second debt fund above target.

LGT Private Debt (formerly LGT European Capital) has closed its Crown European Private Debt II fund at €1.35 billion. The fund will provide unitranche and subordinated debt to companies across Europe with a target investment of between €15 million and €150 million. It was launched in December 2017 with a target of €800 million and is significantly larger than its predecessor, which closed on €474.5 million in April 2016.

Crown European Private Debt II is the first vehicle raised since European Capital was acquired by Swiss asset manager LGT Capital Partners in the summer of 2017.

LGT said it has received investments from more than 60 institutions including pension funds, insurance companies, endowments and family offices. The investors come from a wide geographic area including Europe, North America, the Middle East and Asia.