Switzerland-based LGT Capital Partners has completed its acquisition of KGR Capital, a Hong Kong-based manager of Asian funds of hedge funds. The acquisition was completed on 5 September 2008, following approval of the transaction by regulatory authorities in both Hong Kong and London.
The completed acquisition enables LGT Capital Partners to build its current Crown offering by providing clients with a greater selection of Asia-focused hedge fund programs. The newly expanded firm will now be able to offer clients its existing programs as well as a full range of Asia-focused funds from KGR Capital, such as the flagship Asia Pacific Absolute Return Segregated
Fund. The acquisition also enhances LGT Capital Partners' presence and investment expertise in the region with the addition of 15 Asia specialists from KGR Capital.
Roberto Paganoni, Partner and CEO at LGT Capital Partners, says, "We have made good progress over the past few months in integrating the two teams, which are proving to be as complementary as we had hoped."
Christopher Rampton, Co-Founder of KGR Capital, adds, "Since the acquisition was first announced, our London-listed Asian hedge fund program, KGR Absolute Return PCC Ltd, has been able to increase its share capital by means of a C share issue. Additionally, we have launched a new Cayman fund, KGR Capital Asia Market Neutral, and our London team is fully involved with LGT Capital Partners' upcoming plan to list their Castle Alternative Invest and Castle Private Equity funds on the London Stock Exchange later this year."
LGT Capital Partners currently manages over USD 18 billion in hedge fund and private equity investments globally. A team of more than 150 professionals, representing 30 nationalities, is responsible for managing the Crown and Castle alternative investment programs. Headquartered in Switzerland, the firm has offices in New York, Dublin, Hong Kong and Tokyo.