Partners Group closes EUR447m mezz fund

Fund

Swiss-based asset manager Partners Group has reached a EUR447m final close for its global mezzanine fund, soaring past its EUR300m target. In May 2006 Partners Group raised EUR265m for its European Mezzanine 2005 Fund.

Investments

The fund has already committed over 50% of its capital, with 11 transactions since the beginning of the year. Net asset growth is expected to be moderated by currency effects, particularly the weakening of the US Dollar.

The pipeline is attributed to the credit crunch, which has re-introduced a gap in the capital structure for mezzanine to fill. Additionally the return of covenants has lowered the risk to mezzanine, while increased interest margins have allowed for healthier current returns.

Name: PG Global Mezzanine 2007

Closed on: EUR447m

Focus: Mezzanine

Contact: Cyrill Wipfli

Address: Zugerstrasse 57, 6541 Baar-Zug, Switzerland

Tel: +41 41 768 85 71

Fax: +41 41 768 85 58.

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• Buyout
• Southern Europe