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 reportedly exploring a €800m private credit continuation vehicle to extend the holding period for its portfolio of private credit loans. This move underscores the increasing role of secondary markets in providing liquidity to investors in private debt strategies. The Swiss firm is considering 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 being considered for the transaction include loans from Partners Group’s 2018 and 2020 Private Markets Credit Strategies funds, as well as investments from the fifth, sixth, and seventh funds in its Multi-Asset Credit strategy. This structure would allow Partners Group to retain exposure to the loans beyond the original life of the funds, provide a mechanism for existing investors to realize their positions, and give the manager additional time to manage and exit the underlying credit investments.
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