Partners Group is reducing management fees on its €6.6bn Global Value SICAV evergreen private equity fund as it seeks investor approval for a restructuring following elevated redemption requests, according to a report by Bloomberg.
The Swiss private markets manager reportedly plans to divide the fund into two portfolios under an umbrella structure, separating older, underperforming investments into a distributing vehicle while transferring other assets into a compounding fund targeting longer-term returns.
Investors in the distributing fund will receive management fee reductions of at least 25 basis points for three years, while those in the compounding fund will benefit from cuts of up to 75 basis points until 1 January 2030, according to an investor presentation reviewed by Bloomberg.
The concessions follow mounting liquidity pressures at Global Value, which imposed a quarterly redemption limit of 5% of net asset value in June after withdrawal requests reached an estimated 9.8% in the second quarter. Third-quarter requests again reached the 5% threshold.
Partners Group reportedly also plans to lower the net redemption threshold for new share classes from 5% to 2.5% from 30 October, with the compounding fund expected to return to the standard 5% threshold once the restructuring has stabilised.
The changes are subject to a shareholder vote scheduled for the week of 9 November, with the two sub-funds expected to become operational on 30 November.
Partners Group generated CHF905m in management income during the first half of 2026, up 6% year-on-year, despite redemption pressures and a decline of almost 40% in its share price this year.
