Partners Group explores €800m private credit continuation vehicle
Partners Group is exploring a continuation vehicle of about €800m to extend the holding period for a portfolio of private credit loans, in another sign of the growing role of secondaries in providing liquidity to investors in private debt strategies, according to a report by Bloomberg.
Swiss asset manager Partners Group is considering a €800m continuation vehicle to extend the holding period for a portfolio of private credit loans, according to Bloomberg. This move highlights the increasing role of secondary markets in providing liquidity to investors in private debt strategies. The Swiss firm is contemplating transferring loans from several of its existing private credit funds into the new vehicle, giving investors the option to roll their interests into the continuation vehicle or take liquidity.
The assets under consideration for the transaction include loans from Partners Group's 2018 and 2020 Private Markets Credit Strategies funds, as well as investments from its fifth, sixth, and seventh Multi-Asset Credit funds. A continuation vehicle would enable Partners Group to maintain exposure to the loans beyond the original life of the funds while providing existing investors with a mechanism to realize their positions.
Furthermore, it would offer the manager additional time to manage and eventually exit the underlying credit investments. However, the proposed transaction is still under consideration, and the final portfolio and structure of the deal may change before completion.
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