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Partners Group hits €1.5bn hard cap for direct investment vehicle

13 Feb 2014

Switzerland-headquartered private equity investor Partners Group has held a final closing for its 2012-vintage private equity direct investment programme, hitting its hard cap of €1.5bn.

The programme is the third and largest in Partners Group’s direct investments series of private equity programmes. Like its predecessors, Partners Group Direct Investments 2012 will target a global direct investment strategy across a diversified range of sectors, but with a particular focus on the mid market.

During the programme’s fundraising period, Partners Group’s private equity investment professionals screened more than 1,600 companies, investing in ten. The fund is already a third invested upon its final closing, the firm said.

Dr. Stephan Schäli, partner and head of private equity at Partners Group, said, “Now more than ever, value creation is the key to successful private equity investing. Large-cap assets continue to trade at high EV/EBITDA multiples due to their perceived safety in the current economic environment, leaving the buyer little scope to achieve attractive returns.

“In contrast, the small to mid cap space globally continues to offer great potential for value creation to those firms with the right expertise to work closely with their portfolio companies. With its global platform, Partners Group is uniquely positioned to help mid-sized companies grow into global organizations by making use of its extended network to help portfolio companies expand their operations.”

Limited partners in the fund include a mix of new and re-upping institutional investors from public and corporate pension plans, endowment funds and foundations, insurance companies and financial institutions from around the world. In addition, a “significant number” of entrepreneurs and business executives invested into the programme privately, the firm said.

Earlier this year the firm raised €1.5bn for its biggest-ever dedicated infrastructure vehicle, outstripping the €500m it gathered for its debut infrastructure fund in 2009.

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