Fri, 18/04/2008 - 06:56
Swiss-based alternative asset manager LGT Capital Partners has announced the acquisition of KGR Capital, a Hong Kong-based manager of Asian funds of hedge funds with some USD350m in assets under management. Completion of the transaction is subject to regulatory approval.
Established in 2002 by John Knox, Nicholas George and Christopher Rampton, KGR Capital has offices in Hong Kong and London and a staff of 16 professionals. The firm's flagship fund launched in 2003, the KGR Capital Asia Pacific Absolute Return Segregated Fund, is a diversified multistrategy, multi-manager portfolio of Asian hedge funds.
The firm also manages the KGR Capital Asian Dynamic Fund and KGR Capital China Absolute Return Fund, and is the investment adviser to KGR Absolute Return PCC, a closed-ended investment company listed on the London Stock Exchange.
'We believe this acquisition will bring benefits to existing and prospective clients of both organisations,' says Roberto Paganoni, a partner and chief executive at LGT Capital Partners.
'Acquiring KGR Capital will enable us to build on the success of our current Crown offering by providing clients with a greater selection of Asia-focused hedge fund programmes. It will also enhance our presence and investment expertise in the region with the addition of 16 Asia specialists from KGR Capital.'
Says Knox: 'After several years of successful growth, KGR Capital is very pleased to join LGT Capital Partners. KGR Capital will benefit from a global institutional investment platform, enhanced opportunities within product development and additional resources to further develop its client base. LGT Capital Partners' investment and business philosophy are very similar to ours, making it an ideal partner for our firm.'
LGT Capital Partners is a fund of funds manager focused on institutional investors and currently manages more than USD17bn in hedge fund and private equity investments. A team of more than 130 professionals representing 26 nationalities is responsible for managing the Crown and Castle alternative investment programmes from LGT's headquarters in Pfäffikon and offices in New York, Dublin, Hong Kong and Tokyo. The firm is part of the LGT (Liechtenstein Global Trust) group, a wealth and asset manager owned by the Liechtenstein royal family.
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