Partners Group closes €2bn secondaries fund

The Switzerland-based investment firm plans to increase its exposure to Asia in its latest secondaries vehicle.

Partners Group has made a final close on its oversubscribed secondaries vehicle before the end of its fundraising period, according to a company statement.

The firm reached its hard cap of €2 billion, garnering commitments from both existing and new investors and has so far deployed 20 percent of the fund. 

The statement said dealflow year-to-date is “in line with 2011, during which the firm screened $70 billion in secondary opportunities”.

The firm also revealed its latest vehicle will have an increased allocation to secondaries opportunities in Asia Pacific.

“We further expect to invest a higher proportion of this fund’s capital in Asia than was the case in previous funds as a reflection of the increased maturity of the region’s private equity market,” partner and head of private equity at Partners Group, Stephan Schäli, said in the statement.

A number of global secondaries firms are committing more resources to Asia because they believe the region's private equity market is maturing. During 2012, both AlpInvest Partners and Greenpark Capital opened Hong Kong offices as a move to bolster their Asia capabilities. Paul Capital has also increased its allocation to Asia “quite a bit” in its latest $2 billion secondaries vehicle, PE Asia reported earlier.

Partners Group’s previous secondaries vehicle was launched in 2007, surpassing its target to close on $2.5 billion, according to Private Equity International's data division. 

The firm is an alternative investment manager and advisor based in Zug, Switzerland. The firm now has six offices in Asia Pacific, including Singapore, Beijing, Seoul, Tokyo and Sydney. Current assets under management total €25 billion, with a 71 percent allocation to private equity, according to PEI’s data division.