LGT Bank Switzerland has acquired Aspada, India-focused impact investment fund, to expand its impact investing platform, LGT Lightstone. It acquires the management organisation 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 utilisation.
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 $100m 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.
H.S.H. Prince Max von und zu Liechtenstein, CEO LGT, said: "The acquisition of Aspada and the launch of the brand LGT Lightstone is a significant step in furthering LGT Group's commitment to impact investing and sustainability. 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. We bring the Aspada team on board to help us build out the LGT Lightstone platform, and leverage the pioneering work of the Soros Economic Development fund - especially given our shared values and strategic alignment in shaping the future of impact investing."