LGT Capital Partners Leads AU$143M Continuation Fund in Australia
Deal News | Mar 03, 2025 | Goodwin
Goodwin's Asia Private Investment Funds and Secondaries team advised LGT Capital Partners on a significant AU$143 million investment in a continuation fund managed by Armitage Associates. This GP-led secondary transaction is structured to provide growth capital and partial shareholder liquidity to two portfolio companies, Sash and Bluefit, from Armitage Associates Fund 2. LGT Capital Partners, a prominent player in the alternative investing space with over US$100 billion under management, leverages its extensive experience in the secondaries market, boasting over 450 successful transactions. Melbourne-based Armitage Associates focuses on providing capital and management support to lower middle-market businesses, primarily in the Australian and Asia-Pacific regions. Key figures in this advisory were Goodwin partner Gregory Barclay, counsel Dominic Wong, and associate Ian Goh.
Sectors
- Private Equity
- Asset Management
- Legal Advisory
Geography
- Australia – The primary location of the investment and one of the portfolio companies is based in Australia.
- Asia-Pacific – Armitage Associates spans operations across Australia and the broader Asia-Pacific region.
Industry
- Private Equity – The article details a transaction involving a continuation fund, a common mechanism within private equity for providing liquidity and growth investments.
- Asset Management – LGT Capital Partners, highlighted in the article, operates extensively within asset management, overseeing significant alternative investment portfolios.
- Legal Advisory – Goodwin, the legal advisor in the transaction, plays a crucial role in structuring and executing this investment deal.
Financials
- AU$143 million – The total value of the continuation fund managed by Armitage Associates with LGT Capital Partners as the lead investor.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| LGT Capital Partners | Lead Investor | Company | A global leader in alternative investments, managing assets exceeding US$100 billion. |
| Armitage Associates | Target Company/Manager of Continuation Fund | Company | A Melbourne-based firm specializing in providing growth capital to small and medium-sized enterprises. |
| Goodwin | Legal Advisor | Company | An international law firm advising LGT Capital Partners on the transaction. |
| Sash | Portfolio Company | Company | One of the portfolio companies receiving growth capital from the continuation fund. |
| Bluefit | Portfolio Company | Company | A portfolio company benefitting from the continuity fund's growth-oriented strategy. |