KBRA Assigns a AA- Rating to BNP Paribas' Capital Call Facility to Crown Co-Investment Opportunities III Master SCSp
7 Jun 2024 | London
KBRA UK (KBRA) assigns a AA- rating and Stable outlook to BNP Paribas' capital call facility in the form of a senior secured revolving credit facility (the "Facility") provided to Crown Co-Investment Opportunities III Master SCSp ("CCO III"). The rating was requested by BNP Paribas as the sole lender in the transaction. Neither LGT Capital Partners nor any of its associates has requested this report or the rating, and this report has not been prepared for or approved by any of them.
The Facility is a bilateral facility to which BNP Paribas had committed $225 million as of April 2024. The Facility is used for working capital and investment purposes including investments, hedging and fees. In April 2024, the Facility duration was extended by one year to April 2025.
CCO III is the third vintage fund in LGT Capital Partners’ co-investment strategy, and will follow the investment strategy of its predecessor funds, building a diversified portfolio of co-investments alongside managers in LGT’s network. The investment strategy is focused on buyouts in North America, Europe and opportunistically in Asia-Pacific.
LGT Capital Partners is an alternative investment specialist with over $100 billion in assets under management and more than 700 institutional clients in 44 countries. An international team of over 800 professionals is responsible for managing a wide range of investment programs focusing on private markets, multi-alternatives and diversifying strategies, as well as sustainable and impact strategies. Headquartered in Pfaeffikon (SZ), Switzerland, the Firm has 15 offices around the world.
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