LGT Capital Partners, the Switzerland-based alternative asset manager overseeing $25 billion, has launched a Beijing office, marking its first operation on the mainland.

The Beijing office will be headed by Frankie Fang, who has been serving as LGT Capital’s China representative since 2007.          

It is understood that LGT Capital will examine potential private equity deals in primary, secondary and co-investment opportunities on the mainland, with the Beijing office serving to research and monitor its investments.

LGT Capital will build a team of permanent Beijing-based staff in the coming 12-18 months, with the Hong Kong office remaining as its Asia headquarters.

"We have been investing in mainland China for almost 10 years and want to emphasise the importance of this market to us," Fang tells AsianInvestor

He describes the new office as a "milestone" of LGT Capital's long-term commitment to China.

LGT Capital last month held a final close on its global secondaries fund at $2 billion. Asian institutions accounted for about 19% of the investors in Crown Global Secondaries III.

The firm also manages a regional PE fund of fund, Crown Asia Pacific Private Equity II, which closed at $327.8 million in 2009.