LGT acquires Indian impact investor Aspada to expand platform
Acquisition of Aspada, which manages more than 15 investments totaling over US$100 million, will expand LGT's impact investing platform LGT Lightstone
LGT, the international private banking and asset management group owned by the Princely House of Liechtenstein, is acquiring Aspada, an India-focused impact investment fund, to expand its impact investing platform LGT Lightstone.
LGT acquires the management organization of Aspada and a significant majority position of its portfolio from Aspada’s sole shareholder, Soros Economic Development Fund (SEDF).
LGT Lightstone is LGT's impact investing initiative to build a global multi-billion-dollar direct investing platform focused on scalable businesses that provide access to improved livelihoods, information and services for underserved consumers around the world and/or promote sustainable resource utilization.
Aspada, backed by the Soros Economic Development Fund, has been a pioneering investor in commercially scalable, high-impact businesses across food supply chains, healthcare, education and financial services in India over the last decade.
It currently manages a portfolio of more than 15 investments totaling over US$100 million in invested capital. With the integration of Aspada into the LGT Lightstone platform, future investing efforts in India will be branded under the name LGT Lightstone Aspada.
Kartik Srivatsa, managing partner of Aspada, says, “We see significant opportunity in scaling Aspada’s impact investing model, which brings together a thematic ecosystem development effort to help build large businesses that have outsized developmental impact.”
Sean Hinton, CEO of Soros Economic Development Fund, adds, “The current transaction with LGT brings to fruition more than 10 years of work catalyzing the sector in India. It proves that business can make a meaningful contribution to social progress in ways that attract commercial capital at scale. We are thrilled that LGT will help Aspada embark on its next phase of growth as part of one of the most promising global impact investing efforts given LGT’s long-term commitment to sustainable development.”
Social Media Links (This section can be seen in office only):
Twitter : https://www.theasset.com/article-single.php?id=38564&social=twitter
Linkedin : https://www.theasset.com/article-single.php?id=38564&social=linkedin
Facebook : https://www.theasset.com/article-single.php?id=38564&social=facebook