Partners Group has secured $650m (€564m) in capital commitments at the first close of its fifth real estate secondaries strategy, which has an overall target of $1.5bn.
The manager said the latest real estate secondaries programme includes a closed-end fund as well as bespoke mandates and other vehicles that will allocate to the same strategy.
The fund is seeded with a limited partner-led secondary portfolio that is comprised of three global real estate funds with significant investments across the residential, industrial and hospitality sectors, Partners Group said.
Henrik Orrbeck, co-head real estate at Partners Group, said: “Our real estate secondaries strategy is highly tactical, providing liquidity solutions to GPs and LPs in a capital constrained market.
“We have been an active secondaries investor for nearly two decades, with our strategy underpinned by differentiated sourcing and asset level underwriting capabilities as well as our deep knowledge of secular tailwinds and capital markets dynamics.”
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