Partners Group on 7 May 2024 announced the launch of a new fund, the Eltif-compliant Partners Group Private Equity Evergreen. The new fund, domiciled in Luxembourg, comes on top of other Eltifs previously launched launched by the private markets firm, including the Partners Group Private Markets Eltif Sicav-Sif, the Partners Group Direct Equity Eltif Sicav, the Partners Group Direct Equity II Eltif Sicav and the Partners Group Private Markets II Sicav.
Investors in the fund will benefit from “typical evergreen features,” noted a communiqué from Partners Group. Evergreen funds are usually open-ended, meaning they don’t have a termination date and can accept new investors. The Eltif structure, added the firm, “provides an additional layer of investor protection and simplified administration.”
With the amendments to the Eltif regulation, which came into force in 2023, a broader scope of assets are now eligible and “real assets” are more broadly defined. The removal of minimum investment thresholds for retail investors and more flexible portfolio compositions are also seen as benefits.
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Partners Group’s new fund is available to individual investors through the firm’s network of distribution partners across markets in Germany, France, Spain, Italy, the Benelux countries and others. It has a minimum investment level of €10,000/$10,000, said the press release, and “provides the flexibility to increase or decrease the investment on a monthly basis.” Individual investors in the fund, including retail clients who are not considered professional investors, will invest in parallel with institutional investors.
The Swiss-headquartered firm, which launched its first evergreen fund in 2001, has over $40bn in assets under management across its private wealth solutions and $147bn in assets under management as of 31 December 2023. It has 20 offices around the world and employs more than 1,900 people.
