Deals Of The Day: The Latest In Wealth Management M&A - LGT

Editorial Staff

30 August 2019

Liechtenstein-based has bought an India-focused impact investment fund, Aspada, an example of how this style of money management continues to gain traction.

LGT has made the move to build its impact investing platform, LGT Lightstone. The acquisition includes a “significant majority position” of its portfolio from Aspada’s sole shareholder, Soros Economic Development Fund.

The private banking group wants its impact investment platform to become a “multi-billion dollar direct investing” entity.

Aspada, backed by the Soros Economic Development Fund, has invested in commercially scalable, businesses across food supply chains, healthcare, education and financial services in India. It manages a portfolio of more than 15 investments totalling more than $100 million in invested capital.

“We believe that there is significant opportunity to harness breakthrough developments in technology to deliver scalable business solutions focusing on the economic advancement of underserved populations globally,” HSH Prince Max von und zu Liechtenstein, CEO LGT, said.