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Partners Group closes secondaries fund on €2bn

10 Dec 2012

Switzerland-based private investment firm Partners Group has closed its Partners Group Secondary 2011 fund on its hard cap of €2bn.

The fund was oversubscribed and closed before the expiration of its fundraising period, the firm said.

This programme saw “substantial” interest both from prior investors in Partners Group’s secondary funds as well as from new clients.

With the market for private equity secondaries having continued to increase in size over the past few years, Partners Group said it expects this market to remain strong throughout the next couple of years.

Deal flow year-to-date is in line with 2011, during which the firm screened $70bn in secondary opportunities, its highest ever amount.

The drivers of this growth are regulatory changes on the one hand, with various regulatory impediments restricting financial institutions’ potential for holding private markets assets, as well as record levels of primary fundraising in the past, according to Dr Stephan Schäli, partner and head, private equity at the Zug-based firm.

He said, “Global private equity secondary markets continue to provide a wide range of attractive investment opportunities.

“We have already committed over 20 per cent of the fund to a diversified cross-section of assets which are showing a strong performance overall.

“We further expect to invest a higher proportion of this fund’s capital in Asia than was the case in previous funds as a reflection of the increased maturity of the region’s private equity market.

“With a total of six offices in Asia-Pacific and emerging markets, we have one of the largest dedicated secondary investment teams in the region.”

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