Lgt Capital Partners, a prominent global private markets investment manager, has spearheaded a continuation vehicle (CV) for Armitage Associates, an Australian lower middle market growth buyout manager. This GP-led secondary transaction involved LGT Capital Partners acquiring stakes in two of Armitage’s existing portfolio companies, Sash and Bluefit, from Armitage Associates Fund 2. This strategic move underscores LGT Capital Partners’ commitment to innovative secondary market solutions.
LGT Capital Partners’ Expertise in Secondary Markets
Brooke Zhou, Partner at LGT Capital Partners, emphasized the firm’s two-decade long pioneering role in the evolving secondaries market. This transaction exemplifies how creative secondary solutions can provide much-needed flexibility and liquidity for all participants. It’s also noteworthy as one of the few successful GP-led CVs executed in Australia. Zhou expressed confidence in Sash and Bluefit’s strong industry positioning and the potential benefits for LGT Capital Partners’ investors. She anticipates a continued strong partnership with Armitage.
Armitage Associates’ Long-Term Vision
Mark De Ambrosis, Managing Director of Armitage, expressed enthusiasm for partnering with LGT Capital Partners on their first continuation vehicle. He highlighted Armitage’s dedication to building enduring relationships with portfolio company founders. Both Sash and Bluefit are in the early stages of growth, presenting exciting opportunities for continued collaboration. De Ambrosis praised LGT Capital Partners’ aligned philosophy of long-term value creation and looks forward to a fruitful partnership.
A Strategic Partnership for Growth
The collaboration between LGT Capital Partners and Armitage Associates represents a significant development in the Australian private equity landscape. This transaction allows Armitage to maintain its commitment to Sash and Bluefit while providing liquidity to existing investors. For LGT Capital Partners, it represents a strategic investment in two promising growth companies. The successful execution of this CV further solidifies LGT Capital Partners’ position as a leader in the global secondaries market.
This transaction demonstrates the increasing importance of innovative solutions in the private equity market and highlights the expertise of LGT Capital Partners in structuring and executing complex secondary transactions.
