Switzerland-based private markets manager Partners Group has said it has no intention of introducing further liquidity restrictions or suspending any of its evergreen investment vehicles, pushing back against recent market speculation around its funds, according to a report by Reuters.
The clarification follows heightened investor concern earlier this month, when the firm’s shares experienced a sharp sell-off on 3 June after it confirmed withdrawal limits on an $8.6 billion evergreen private equity fund. The move came amid increased redemption requests from clients worried about softer underlying valuations.
Subsequent market reports suggested the firm could extend gating provisions to a larger US-focused evergreen vehicle, where redemption activity had also been rising. At the same time, Partners Group disclosed that three more mature evergreen funds, collectively managing about $9.7 billion, were expecting redemption levels in the range of 3.5% to 5%.
Evergreen structures, unlike traditional closed-end private equity funds, operate without a fixed maturity date and are designed to provide ongoing subscription and redemption windows, supported by liquidity management tools.
In a statement issued Friday, Partners Group stressed that it is not planning to modify any of its established liquidity frameworks. The firm said its evergreen portfolios remain appropriately positioned, with underlying assets it characterises as fundamentally sound and liquidity aligned with target allocations.
It also noted that the two funds at the centre of recent speculation have continued to perform strongly, with roughly 15% of assets realised in 2025 and similar levels anticipated in 2026. Both vehicles remain open to new capital and continue to accept subscriptions.
A spokesperson for Partners Group confirmed that the reassurance applies across its evergreen platform, not just the two funds that have recently implemented redemption caps of up to 5%.
The firm, which oversees approximately $185 billion in assets under management, also reaffirmed its previously issued financial outlook without providing additional updates.
Investor scrutiny of Partners Group’s evergreen strategies has intensified in recent months amid rising withdrawals. In April, short seller Grizzly Research published a report alleging potential overvaluation across parts of the portfolio—claims that the company has firmly rejected.
