Partners Group buys Santander’s stakes in three Euro funds

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euros debt moneyPartners Group has bought interests in three European buyout funds from Santander Asset Management.

The alternative investments unit of the Spanish bank tapped its Private Equity I vehicle to sell the portfolio according to UK regulatory filings.

Partners used its Partners Group Gate Access fund to purchase interests in PAI Europe V, EQT V and August Equity II.

It paid capital contributions of €300 for PAI Europe V-3 and £40 for August Equity II A, according to the filings.

In 2008, Paris-headquartered PAI Partners closed its fifth fund at €2.7bn, putting it above its initial €2.5bn target.

The fund made 11 investments including IT services company Atos, branded eyewear retailer Marcolin, women’s lingerie retailer Hunkemöller, and equipment rental company Kiloutou.

London-based August Equity closed August Equity Partners II on £155m in 2008.  It invests in small and medium-sized businesses whose headquarters are in the UK according to its website.

EQT V, which is managed by Nordic private equity firm EQT, closed at €4.3bn in 2006.

The fund currently holds seven portfolio companies including AcadeMedia, Broadnet, CBR, SAG, and Scandic according to its website.

Private Equity I, a €135m fund of funds that closed in 2006,  is managed by Santander’s private equity unit which was founded in 2004.

Earlier this month, Partners Group reportedly bought a portfolio of five real estate funds from Superannuation Fund.

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