Partners Group combines secondaries and primary businesses

Partners Group has merged its secondaries and primary private equity investment units amid a reshuffle of its top team.

The changes to the global investment firm’s organisational structure are intended to allow “a greater number of its senior partners to focus on their important investment- and client-related responsibilities, while ensuring continuity and stability in its core leadership team,” according to a statement from the firm.

The adjustments will be effective from 1 July 2017.

As part of the changes, head of integrated investments Andreas Baumann will take global responsibility for the firm’s private equity secondaries and primary business, leaving the executive committee but remaining on the global executive board.

Adam Howarth and Hal Avidano will become co-heads of integrated investments for North America, overseeing both secondaries and primary investments, a spokesman confirmed.

Co-head of private equity David Layton will become sole head of the division, with fellow co-head Stephan Schäli stepping into the role of chief investment officer. Schäli will remain on the firm’s global executive board, and hand over his seat in the executive committee to Layton.

René Biner, currently co-head of investments, becomes chairman of the global investment committee, dedicating more time to the firm’s global private markets investment activities. He also leaves the executive committee but remains on the global executive board.

In the statement, Steffen Meister, delegate of the board of directors, said the firm “continuously evaluate[s] the ideal leadership structure to support the firm’s evolving business and corporate needs”.

Partners is in market with its latest real estate secondaries fund, Partners Group Real Estate Secondary 2017, according to PERE data. It is understood the firm is seeking at least $2 billion for the vehicle.

Partners Group has around $57 billion in assets under management and employs more than 900 professionals across 19 global offices.

– Additional reporting by Isobel Markham.