Partners Group cuts fees on €6.6bn evergreen fund amid redemption pressure

Swiss private markets firm Partners Group is lowering management fees on its €6.6 billion Global Value SICAV evergreen fund amid a surge in redemption requests, according to Bloomberg. The reduction aims to comply with investor approval for a restructuring following heightened withdrawal demands, Bloomberg reports.

The Swiss firm intends to split the fund into two portfolios under a single umbrella structure. One portfolio will contain older, underperforming investments, while the other will hold newer, more promising assets. Investors in the distributing fund will see management fees reduced by a minimum of 25 basis points for three years, while those in the compounding fund could benefit from cuts of up to 75 basis points until January 1, 2030, as per an investor presentation reviewed by Bloomberg.

The fee cuts follow increasing liquidity pressures at Global Value, which implemented a quarterly redemption limit of 5% of net asset value in June, following withdrawal requests totaling roughly 9.8% in Q2. Requests again hit the 5% limit in Q3. Partners Group reportedly also intends to lower the net redemption threshold for new share classes from 5% to 2.5% from October 30, with the compounding fund expected to revert to the standard 5% threshold once the restructuring stabilizes.

The changes require a shareholder vote scheduled for the week of November 9, with the two sub-funds set to launch on November 30. Partners Group reported CHF905 million in management income during the first half of 2026, marking a 6% year-on-year increase, despite redemption pressures and a year-to-date decline of nearly 40% in its share price.