Partners Group

The firm has not levered its private credit evergreen funds in the same way some of its peers have, according to chief executive David Layton.

The top force fuelling M&A among private markets managers is the ambition to become as relevant to private wealth and insurance money tomorrow as institutional capital today.

Opening up alternative assets to non-institutional investors, from HNWIs to 401(k) account holders, represents up to $80trn. It's an alluring pot of capital for an industry with flatlining annual fundraising figures in some asset classes. And yet, multiple headwinds exist, making the journey towards increasing democratisation far from straightforward.

The subject has taken priority at recent meetings of trade group Institutional Limited Partners Association, sources tell PEI.

Partners Group saw its strongest year for wealth-related evergreen products in 2024, CEO David Layton said on the firm's 2024 annual results call.

The firm launched seven new evergreen funds in 2024, head of portfolio solutions Roberto Cagnati said during its business update and outlook call.

Mega-funds, market bifurcation and a resurgent investor base are reshaping the continent’s private equity landscape.

Recent updates from the US administration are paving the way for clearer partnership between private markets and American defined contribution capital.

The recent redemption rush in credit evergreens underscores that the democratisation of private markets still requires careful calibration.

Gulf capital that was previously earmarked for the US or Europe could be redirected towards home countries, Andrei Rotaru, head of Middle East private equity, tells PEI.

Private equity generated €19.5bn in exit value in 2025, a 77% increase on the prior year, according to the firm's FY 2025 earnings report.

The conversion of fund stakes into tradable digital securities will allow more individual investors to access all types of private equity funds, Steffen Pauls tells PEI.

For most GPs, tapping into the growing pool of private wealth capital requires a different set of in-house capabilities, prompting some aggressive recruitment drives.

Institutional LPs are unimpressed by GPs chasing individual investors, according to an ILPA survey.