Partners Group seeks $4bn in biggest secondaries raise yet – exclusive

The investment firm launched its flagship private equity secondaries fund at the end of Q3, Secondaries Investor has learned.

Partners Group has returned to market with its flagship private equity secondaries programme, seeking more than 40 percent more than its previous fund, Secondaries Investor has learned.

The Baar-Zug-headquartered investment firm is targeting $4 billion for Partners Group Secondary 2020, according to two sources familiar with the fundraise. The fund launched at the end of the third quarter, one of the sources said.

The $4 billion target is around 43 percent larger than the firm’s predecessor, which raised €2.5 billion in 2016, according to Secondaries Investor data.

The firm is also in market with two other vehicles which will invest in secondaries: Partners Group Global Infrastructure 2018, which is seeking €1 billion, and Partners Group Real Estate Opportunities 2019, which is seeking $3 billion, according to Secondaries Investor data. Infrastructure 2018 will invest around 60 percent of its capital in primaries and secondaries, while Real Estate Opportunities 2019 will invest in secondaries and direct opportunities, as Secondaries Investor reported.

Partners Group ranked seventh in this year’s SI 30 list of the biggest secondaries fundraisers, having raised $10.68 billion between January 2014 and June 2019.

At least eight of the top 10 largest secondaries firms were in market or were preparing to return to market as of mid-October, according to Secondaries Investor data.

A spokeswoman for Partners Group declined to comment.