Private markets firm Partners Group has announced plans to restructure its established private equity evergreen strategy, Global Value SICAV, into an umbrella fund with two sub-portfolios. The proposed change aims to give institutional and private wealth investors greater flexibility when allocating capital to private equity over time. Both sub-portfolios will be managed by the existing team.
The Luxembourg-domiciled strategy has a 19-year track record and has generated 4.5 times invested capital since inception, according to the firm.
Under the proposal, investors will be able to choose between a compounding fund targeting long-term value accretion and a distributing fund allowing investors to harvest returns through portfolio realisations.
The two sub-portfolios will be formed from different pools of investment vintages. Existing shareholders will have the option to maintain their current exposure, convert shares from the distributing fund to the compounding fund, or redeem shares in one or both sub-portfolios.
Partners Group plans to retain a significant commitment to the strategy and expects to make an additional material investment in the compounding fund from its balance sheet alongside new institutional clients. The restructuring remains subject to shareholder approval.
The move reflects broader developments across the evergreen fund sector as investors seek more dynamic capital allocation in private markets. Partners Group confirmed the evolution aligns with the assets under management guidance it issued during its financial updates earlier this year.
Roberto Cagnati, incoming chief executive of Partners Group, said: “Our proposal to segment Global Value SICAV into two bespoke portfolio profiles sets up one of the most successful private equity evergreen strategies to continue compounding returns into the future.
“We are simplifying portfolio construction and management, enabling investors to align capital with their liquidity needs and return objectives without compromise. The long-term exposure that the compounding fund provides has already generated interest from new institutional investors.”
