Partners Group is considering launching slightly smaller evergreen funds in future, with chairman Steffen Meister saying the firm may better align fund sizes with long-term investor flow dynamics following recent redemption pressures.
Speaking to Bloomberg, Meister said the Swiss private markets manager has no plans to alter its overall evergreen strategy despite capping withdrawals from its $8.6bn open-ended private equity fund earlier this month. The move, prompted by elevated redemption requests, triggered a sharp sell-off in the firm’s shares and renewed scrutiny of liquidity management in evergreen private markets vehicles.
Meister said future evergreen funds could be “slightly smaller in size”, while stressing that the firm does not intend to change its broader approach. Partners Group also reiterated earlier this month that it has no plans to introduce additional liquidity restrictions or freeze any of its evergreen funds, stating that the portfolios remain healthy and maintain sufficient liquidity within their target allocations.
Partners Group’s shares have fallen around 34% since the start of the year. The company has also disclosed that senior management has purchased more than CHF60 million ($74m) of stock since 3 June, signalling confidence in the business following the recent market volatility.
