LGT Capital Partners closed its latest secondaries fund at the $4.5 billion hard cap.
Crown Global Secondaries V is the firm's fifth private equity investment program that allocates to secondaries worldwide, a news release said. A spokesman did not comment on the fundraising target.
"The opportunity set of investments continues to grow substantially, with fund solutions becoming as ubiquitous as sales of limited partnerships interests a decade ago," Andre Aubert, partner at the firm, said in a news release.
Investors in the fund include the $5.1 billion Kern County Employees' Retirement Association, Bakersfield, Calif.
LGT Capital Partners has more than $75 billion in assets under management.