LGT impact fund met with five-fold oversubscription
LGT Group reports in a press release that the Lightrock Evergreen Fund was exclusively open to LGT clients in May. The press release goes on to state that the fund represents the first impact investment fund for LGT’s private clients. After oversubscription five times the target size, the Lightrock Evergreen Fund has now been closed having raised 900 million US dollars.
The funds will be invested in the Lightrock Growth Fund I of the impact investing company Lightrock, the press release states further. In February, LGT Group grouped its direct impact investing activities into an independent entity, Lightrock, headquartered in London. LGT Chairman Prince Max von und zu Liechtenstein presides over the supervisory board of Lightrock.
Prince Max von und zu Liechtenstein is quoted in the press release, saying: “The strong investor demand for the Lightrock fund underlines the rapidly growing interest in impact investing. While it has taken some time and effort to establish Lightrock as a leading global impact investment firm, I am convinced that this is just the beginning of a long and exciting journey that will generate strong financial and societal returns for the investors in Lightrock's funds.” The Lightrock Evergreen Fund is to be invested in growing, innovative and sustainable companies in Europe, Latin America and India.