Partners Group has secured $700 million for its credit strategy program Partners Group Multi-Asset Credit Strategy 2014. So far the program has made a number of investments, which include Germany-based textbook publisher Springer Science+Business Media.
Partners Group, the global private markets investment manager, has raised USD 700 million for an innovative multi-asset credit strategy program, Partners Group Multi-Asset Credit Strategy 2014. It is the first comingled investment program to offer investors comprehensive exposure to private markets debt, incorporating real estate and infrastructure debt as well as corporate debt into one offering.
Partners Group’s global multi-asset credit investment strategy combines senior secured and subordinated debt across private markets asset classes with select investments in high yield bonds and distressed situations on behalf of its clients. The 2014 program was launched following the prior implementation of this strategy for several mandate clients.
At the time of its final close, the program had already financed 35 private markets credits across a diverse range of sectors and geographies. Corporate investments include Springer Science+Business Media, a global publisher of textbooks headquartered in Germany, while infrastructure debt exposure includes the senior debt financing of a power plant in North America. The program’s real estate portfolio includes a senior loan to support the acquisition of a four-story neighborhood shopping center in a private housing estate in Hong Kong.
Juri Jenkner, Partner and Co-Head Private Debt, Partners Group, comments: “The multi-asset credit strategy is a great addition to our single asset class private debt offerings, enabling clients to access the full spectrum of private debt opportunities and gain a contractual return with a running cash yield at low levels of risk. Partners Group is well-positioned to benefit from the significant reduction in lending activities by banks and subsequent growth in demand for private markets financing that has resulted from this, especially in Europe.”
Christoph Rubeli, Co-Chief Executive Officer and Co-Head Investments, Partners Group, adds: “This strategy highlights the unique strength of Partners Group’s investment platform, requiring a collaborative and fully integrated investment approach across all private markets asset classes globally and a successful long-term investment track record. The demand for this multi-asset credit program illustrates institutional investors’ interest in a low-risk strategy offering attractive returns as an alternative to both bonds, which offer low to negative yields in the current market environment, and equity markets, which are more volatile.”
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 37 billion (over USD 45 billion) in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, Houston, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Mumbai, Singapore, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 750 people and is listed on the SIX Swiss Exchange (symbol: PGHN) with a major ownership by its partners and employees.