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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE LGT to acquire Hong Kong-based fund of hedge funds KGR Capital21/04/2008. Source: AltAssets. 
Pfaeffikon, Switzerland-headquartered alternative assets and fund of funds manager LGT Capital Partners has agreed to acquire Hong Kong-headquartered fund of hedge funds KGR Capital for an undisclosed amount. KGR was established in 2002 by John Knox, Nicholas George and Christopher Rampton. The firm, with offices in Hong Kong and London, has approximately $350m in assets under management.
Roberto Paganoni, partner and CEO at LGT, said, 'We believe this acquisition will bring benefits to existing and prospective clients of both organisations. 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 programs. It will also enhance our presence and investment expertise in the region with the addition of 16 Asia specialists from KGR Capital.'
John Knox, co-founder of KGR, added, '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.'
KGR launched its flagship fund, KGR Capital Asia Pacific Absolute Return Segregated Fund, in 2003. The fund provides investors with a multi-strategy, multi-manager portfolio of Asian hedge funds. The firm also manages the KGR Capital Asian Dynamic Fund and KGR Capital China Absolute Return. KGR is also the investment advisor to KGR Absolute Return PCC, a closed-end investment company listed on the London Stock Exchange.
LGT manages approximately $17bn in hedge fund and private equity investments globally.
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