Global private markets investment management firm Partners Group has raised €3bn for its latest direct infrastructure programme.
The amount was raised through the flagship global direct program, for which fundraising ended this month with the close of Partners Group Direct Infrastructure 2016, together with capital committed to direct infrastructure via a number of other investment programs and mandates that were raised in parallel.
Partners Group said its founders, partners, and other employees, together with affiliates of the firm, committed more than 4% of the funds raised.
The global direct program is the successor to Partners Group Direct Infrastructure 2011, which closed in mid-2012.
The Swiss multi-asset manager said the investment strategy of the programme is to create value for its clients via platform expansions, operational value creation and building core assets.
Brandon Prater, a partner and head of private infrastructure Europe at Partners Group, said: “We continue to focus on our proven strategy of investing in high-quality infrastructure assets or projects, with value creation potential and visibility on future cash-flow generation.
”In the current environment, the sectors we believe offer the most attractive opportunities globally include the renewables, communications, and energy infrastructure sectors, where certain transformative trends have led to outsized pockets of growth.”
At the time of its final close, the program was already committed to eleven investments on behalf of its investors across a diverse range of sectors and regions, Partners Group said.
Notable deals include the acquisition of a 45% stake in Dutch wind farm Borssele, a project to build an ethylene processing facility in Baytown, Texas and a project to design and deliver 65 trains to the State of Victoria in Australia.
Juri Jenkner, a partner and head of private infrastructure at Partners Group, said: “We see strong demand from our global client base for our flagship private infrastructure offerings, with investors appreciating the diversification benefits an allocation to the asset class can bring to their portfolios.
”As a firm, we are currently focused on three global megatrends, which we believe will generate attractive investment opportunities across private markets asset classes in the long term: digital transformation, new generation living and consumption, and the energy revolution.”
