Partners Group

Partners Group has closed another feeder fund for its Private-Credit-Evergreen strategy, raising $510 million from US insurance companies. Together with a feeder fund raised in January of $365 million, the volume of the rated feeder funds amounts to $875 million. The strategy, launched in 2016, focuses on direct senior corporate loans in non-cyclical sectors of developed markets and, according to the company, has a long performance record. » Mere på finanzen.net

Partners Group has unveiled a new global private credit investment strategy in the form of an open-ended evergreen fund targeting institutional investors and high-net-worth clients. The aim is to achieve annualized returns in the high single-digit to low double-digit percentage range. The strategy invests broadly in direct loans, secondary-market credit investments, fund financing, royalties and liquid credit, with a focus on Europe, North America and the Asia-Pacific region. With this move, Partners Group is expanding its private credit offering; the firm says the unit manages around USD 40 billion worldwide. » Mere på finanzen.net

Investors in London-listed Partners Group Private Equity Limited (PGPE) voted by around 74.1% in favour of converting to realisation shares, comfortably exceeding the 40% threshold. The board will put a controlled wind-down of the fund to a vote at an extraordinary general meeting and abandon the previously planned restructuring. PGPE managed roughly €800m at the end of April and had recently been trading at discounts of up to 40% to net asset value. The development is another setback for Partners Group, which is already under pressure from heavy redemption requests and structural changes at other funds. » Mere på finanzen.net

Partners Group is restructuring its Global Value Sicav‑Evergreen fund, which has a net asset value of €6.6 billion, and is creating two sub‑portfolios under a new umbrella fund. The move follows redemption limits introduced in June after a sharp rise in redemption requests and sell‑offs. Investors can keep their exposure, convert into an accumulating fund made up of the sub‑portfolios, or return shares in one or both sub‑portfolios; management remains unchanged. » Mere på finanzen.net

The European Commission has approved Partners Group’s acquisition of control over AVK Power Solutions under merger rules. Partners Group had announced in early August that it would initially invest over $1 billion of equity plus debt financing in AVK; AVK management will retain a minority stake. AVK supplies generators and power solutions for data centres (about 3.5 GW installed). The Commission found no competition concerns, as the companies do not operate in the same or vertically related markets. Partners Group shares rose in Swiss trading. » Mere på finanzen.net