Partners Group Expects Fundraising Slowdown Over Redemption Concerns in 2026-2027
Partners Group Faces Fundraising Challenges Amid Redemption Uncertainty
ZURICH, June 4 (Reuters) - Partners Group on Thursday said it expects a slowdown in fundraising in the second half of 2026 and to continue into 2027 following uncertainty about redemptions from its open-ended evergreen funds.
Withdrawal Caps and Investor Concerns
The Swiss asset manager said it had capped withdrawals from an $8.6 billion private equity fund, reigniting investor worries about the risks of popular alternative investments and triggering a broad retreat in the shares of global asset managers.
Fundraising Outlook and Projections
Partners Group on Thursday reaffirmed its expected gross new client demand of $26 billion to $32 billion for 2026, supported by "a large and visible pipeline of fundraising opportunities across mandates, evergreens and traditional closed-ended programmes."
Short-term Fundraising Expectations
The company said it expected its fundraising to exceed outflows in the first half of 2026, but there could be a slowdown in the second half, a trend expected to continue into next year.
Impact on Assets Under Management
"For H2 2026, the firm expects that overall net assets under management growth could be slowed by the evergreen platform by 1-2%, with a similar effect expected for net overall AuM growth for the full year 2027," Partners Group said.
Industry-wide Volatility and Fund-specific Effects
The middle-market alternative asset manager, which oversees about $185 billion, cited industry-wide volatility across open-ended evergreen funds starting from private credit and spilling into private equity.
Evergreen Fund Withdrawals
Two of its evergreen funds have been particularly affected by withdrawals, with Luxembourg-based Partners Group Global Value SICAV seeing redemption requests reaching 9.8% of the assets held.
Delaware-based Fund Repurchase Requests
Repurchase requests for a Delaware-based fund had reached 6%, Partners Group said.
(Reporting by John Revill, Editing by Friederike Heine and Sonia Cheema)
