Partners Group closes 3rd global fund of fund with $886M

Partners Group, the global private markets investment manager, has closed its third fund, Partners Group Global Value 2011, with $886.3 million (€ 680 million).

The firm will use more than 50 per cent of this fund in private equity investments. It had already invested in Global Blue, a Switzerland-based company that provides travel-related financial services, and SBF Group, a Brazilian sporting goods retailer.

This is the largest fund size in Partners Group’s Global Value series. Earlier, it closed its 2006 and 2008 programmes on over $521.38 million (€400 million) and over $690.83m (€530 million), respectively.

In the third fund, there were some new investors apart from existing investors from corporate and public pension plans, insurance companies and financial institutions. The fund will invest in private equity deals, secondary purchases, mezzanine financing and other things.

“Both Global Blue and SBF Group stand to benefit from a growing middle class consumer group in emerging markets, an investment theme we believe will remain resilient to the volatility still seen in global markets. The Global Value 2011 program has also already benefitted from distributions from several mature assets in its secondary portfolio, as well as the early repayment of a mezzanine investment in a healthcare provider,” said Stephan Schäli, partner and head of PE at Partners Group.

Partners Group, headquartered in Zug, Switzerland, is a private equity firm that has more than $36 billion in assets under management. The company, which invests in real estate, infrastructure and private debt, also has offices in San Francisco, New York, London, Guernsey, Luxembourg, Singapore, Beijing, Tokyo, Sydney, and Dubai.

Last month, it had invested $110 million in Barcelona-based Softonic, a programme that lets users find information about software programmes or electronic devices.

(Edited by Prem Udayabhanu)

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