Partners Group nears $100bn in AUM

The alternatives manager has secured $7.1bn in new commitments from private equity, and $4.9bn from private debt. This represents 9% and 25% net growth, respectively. The Baar-headquartered organisation now manages $44.9bn in PE and $21.9bn in private debt.

The PE fundraising was a mix of the organisation's next generation private equity direct strategy, and many semi-liquid strategies and customised mandates, says Philip Sauer, co-head group finance and corporate development, during the 2019 AUM announcement call that took place today.

He expects PE to see another strong year, with the direct equity strategy contributing significantly to the fundraising over the next 12 months.

Among the drivers of the private debt growth are the organisation's direct lending as well as collateralised loan obligation (CLO) business, as the Swiss firm closed three more CLOs in 2019.

The annual results also reveal that Partners Group has invested $2.7bn in secondaries across private markets.

"One of the things that we have appreciated in the secondary market recently is that there has been a shift from more tail in  portfolios where we have not historically allocated a lot of clients capital, towards to what we call inflection assets, which are funds that they are two to five years old," said David Layton, co-CEO.

He added that the infrastructure secondaries market is developing nicely, while the secondary volume is expected to increase in a couple of years on the back of record primary raising: "We have been organising ourselves to take advantage of that opportunity over the next one year or two."

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