Global private markets investment manager Partners Group said it has reached its target of raising €2 bn for its third dedicated private real estate secondaries programme.
The capital was raised across Europe, Latin America and Asia from a mix of new and existing clients, including public and corporate pension plans, corporations, insurance companies, endowment funds and foundations from around the world.
Partners Group's founders, partners, and other employees also made a substantial investment, committing close to €70 mln to the strategy.
The investment strategy focuses on the acquisition of mature real estate assets 'in need of more time and capital to realize their value creation potential', the company said. In particular, Partners Group will seek opportunities to provide tailored asset and portfolio liquidity solutions to operators, developers and third-party investors in order to support asset-level business plans, or to structure fund recapitalizations due to an upcoming fund or debt maturity.
'We have seen strong demand from clients for this third iteration of our real estate secondaries strategy,' commented Marc Weiss, partner and co-head private real estate at Partners Group.
The programme is already committed to 15 investments including a property portfolio of seven assets across Sweden and Finland in the retail, logistics, hospitality and education sectors.
Headquartered in Zug, Switzerland, Partners Group manages roughly €67 bn of assets. The firm employs over 1,000 people and is listed on the SIX Swiss Exchange.
