Partners Group is planning a close on its latest infrastructure vehicle by the year end, sister publication Infrastructure Investor has learned.
The Swiss investment firm launched Partners Group Global Infrastructure 2018 earlier this year, targeting €1 billion. The vehicle follows its predecessors’ strategy, where 40 percent is invested in direct infrastructure deals and 60 percent is deployed in primaries and secondaries.
Partners Group declined to comment on the fundraising.
Global Infrastructure 2018 has a five-year investment period and is the fourth edition of Partners Group’s Global Infrastructure fund strategy. Both Global Infrastructure 2015 and Global infrastructure 2012 also closed on €1 billion, while the maiden Global Infrastructure 2009 closed on €500 million.
The strategy typically targets returns of between 7 and 10 percent. The 2012 fund is generating a net return of 10.7 percent and a money multiple of 1.3 times, according to pension fund documents. The 2015 vintage has less than a quarter of commitments invested.
Partners Group collected €2.2 billion for its Direct Infrastructure 2016 fund in February, alongside a further €800 million for separate accounts and other infrastructure vehicles.
The company also hired Robert-Jan Bakker from APG and Vittorio Lacagnina from QIC earlier this year as heads of business development for private infrastructure in Europe and the Americas, respectively.
Partners Group announced last month it had invested “over A$200 million” ($142 million; €123 million) to buy the 226MW Murra Warra I wind farm from Renewable Energy Systems and Macquarie Capital.