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Partners Group closes secondary vehicle on €750m

The New York-based firm has appointed Sean Kelly Rand, formerly of boutique Bell Capital Partners and Lehman Brothers, as director to help lead its activities from the UK capital.

Partners Group, the Switzerland-based alternative investment firm with more than €20 billion in investments under management, has closed its Partners Group Real Estate Secondary 2009 fund on €750 million.

In an announcement, Partners said the vehicle was devised to invest in secondary investments on a global basis. It has attracted equity commitments from investors including sovereign wealth funds, endowments, corporate and public pension plans, insurance companies, financial institutions and high-net-worth individuals.

Partners said it had already deployed up to 30 percent of the fund’s equity in “a number of compelling opportunities” in regions including North America, Latin America, Europe and Asia Pacific. The firm said it typically seeks to deploy capital into investments that can demonstrate “conservative debt financing, high quality assets with minimal near-term refinancing risk and long-term leases to reliable tenants.”

Marc Weiss, partner and global head of private real estate secondaries at Partners Group, said: “With an abundance of deal flow and few market players having capital available to transact on offerings, we are well positioned to secure attractive opportunities for our clients. We are in advanced negotiations to acquire further attractive positions in early 2011.”

Partners Group is Swiss Exchange-listed with a current market capitalisation of CHF4.5 billion (€3.4 billion; $4.5 billion). The majority of its shares are owned by the firm’s 36 partners and employees.