LGT Capital Partners, a Swiss alternative funds manager, has raised over $4bn for alternative asset investment since the collapse of Lehman Brothers in September 2008 in a development that bucks an industry-wide trend of declining investment in funds of funds.

The fundraising over the two years has helped take the funds LGT currently manages to $19bn across hedge fund and private equity investments globally. It means that two of its funds-of-funds now account for half of all cash invested in private equity funds-of-funds this year. Its fundraising efforts come despite a wider crisis in the fund of funds industry, which has been hit by sharp falls in fundraising.