Zug, Switzerland-headquartered Partners Group has closed its latest Global Value programme with €680m in commitments.
The 2011 vintage programme is the third and largest in Partners Group’s Global Value series, following 2006 and 2008 offerings, which closed on over €400m and over €530m respectively. The focus is on investments in in direct, secondary and primary private equity investments as well as select mezzanine investments worldwide, affording the flexibility to build an “all-weather” portfolio by targeting the most attractive segments of the asset class in different markets and market conditions, Dr Stephan Schäli, partner and head of private equity at Partners Group, said.
“Both Global Blue and SBF Group stand to benefit from a growing middle class consumer group in emerging markets, an investment theme we believe will remain resilient to the volatility still seen in global markets,” he said. “The Global Value 2011 programme has also already benefitted from distributions from several mature assets in its secondary portfolio, as well as the early repayment of a mezzanine investment in a healthcare provider. With the market showing some pricing pressure for secondary investments, we continue to focus on assets at their inflection point where value can still be created and also on providing structuring solutions in complex transactions for the benefit of both sellers and buyers.”
At the time of its final close, Partners Group Global Value 2011 was already more than 50 per cent committed. Completed investments include Global Blue, a provider of travel-related financial services including tax-free shopping refund services, and SBF Group, the largest sporting goods retailer in Brazil.
Investors in Partners Group Global Value 2011 include a mix of new and prior investors from corporate and public pension plans, insurance companies and financial institutions, the firm said.
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