Partners Group is back in market with a real estate secondaries fund two years after its predecessor vehicle closed on the biggest amount ever raised for investing in the strategy.
The Zug, Switzerland-headquartered investment firm registered Partners Group Real Estate Secondary 2017 (USD) A on Tuesday, according to a filing with the US Securities and Exchange Commission. The fund’s target was not listed on the filing and no limited partners have committed to the vehicle.
The firm amassed $1.95 billion for its predecessor, Partners Group Real Estate Secondary 2013, which closed on almost double the $1 billion target, according to PEI data. Investors in that fund include San Bernardino County Employees’ Retirement Association, Strathclyde Pension Fund and Texas Mutual Insurance Company.
Partners Group Real Estate Secondary 2013, which the firm used to acquire stakes in New Zealand Super’s real estate portfolio sale in the first half of this year, remains the largest pool of dedicated capital for real estate secondaries. Landmark Partners’ 2014-vintage Landmark Real Estate Partners VII is the second at $1.6 billion.
Partners Group declined to comment.