- The fund has seen strong demand since its launch in 2024, reflecting growing interest in infrastructure amongst private wealth investors
- It will invest alongside Partners Group's fourth-generation direct infrastructure program, as well as its established infrastructure secondaries program
- Partners Group's pro rata allocation policy ensures all the firm's infrastructure products have equal access to new transactions under its infrastructure strategy
Partners Group's next generation infrastructure evergreen fund (“the Fund”) has reached USD 1 billion[1] in assets following its launch in early 2024. The Fund, which is one of the first dedicated infrastructure evergreens for the private wealth market, is available to eligible investors in Europe, the Middle East, and Asia. Partners Group is one of the largest firms in the global private markets industry.
The Fund will invest alongside Partners Group's fourth-generation flagship direct infrastructure program, which is in fundraising, as well the firm's established infrastructure secondaries program. Partners Group's pro rata allocation policy ensures all the firm's infrastructure products have equal access to new transactions under its next generation infrastructure strategy. Under this strategy, the firm invests in assets that benefit from thematic growth trends and exhibit strong infrastructure characteristics, such as long-term contracted cash flows, and seeks to transform them through a hands-on ownership approach. Investors in the Fund benefit from Partners Group's deep evergreen portfolio management experience and operational capabilities, which have been developed over decades.
The Fund focuses on direct investments with strong value creation potential complemented by secondaries. This enables the Fund to tap into opportunities depending on the market environment, achieve greater diversification within its portfolio, and maximise deployment potential. The Fund, which has already completed more than 50 investments, has achieved attractive annualized net returns[2] of 20% since inception in 2024.
Esther Peiner, Partner, Global Head of Infrastructure, Partners Group, says: "The speed at which we have reached this milestone is a testament to the strength of our global infrastructure platform, which has a more than 20-year track record. We have a tried-and-tested sourcing approach and a broad investment engine with boots on the ground across every continent. The infrastructure asset class is benefitting from structural thematic tailwinds such as the rise of AI and cloud computing, the electrification of transport, and the decarbonization of energy sources, and we have a strong investment pipeline."
Philip Sauer, Managing Director, Client Solutions Europe, Partners Group, adds: "Demand for infrastructure continues to grow amongst private wealth investors. The asset class offers low GDP correlation, inflation-linked revenues, and robust capital preservation, which is proving attractive amidst broader market volatility. The Fund's evergreen structure is also suited to individuals as it offers immediate exposure to a diversified portfolio, fully paid-in shares with no future capital calls, and monthly liquidity features. This is a great way for investors to access an asset class that has been a mainstay of institutional portfolios for decades."
The Fund is one of seven new evergreens that Partners Group launched in 2024. The firm has USD 52 billion in AuM across its evergreen suite globally, which includes offerings for private equity, infrastructure, private credit, and royalties. Partners Group launched one of the private markets industry's first evergreen funds in 2001 and has successfully managed open-ended vehicles through multiple economic cycles.
