Alt Investments
Mediobanca, Partners Group Form Private Markets Pact
The pact between the bank and investment firm highlights continued strong interest in private market investing in the wealth sector.
Partners
Group, the private markets firm headquartered in Zug,
Switzerland, is teaming up with Italy’s Mediobanca Private
Banking, the division of Mediobanca serving high net
worth and ultra-HNW professional clients.
The partnership concentrates on providing access to Partners
Group's private equity investments through one of its
“evergreen,” aka perpetual, structures: Partners Group
Global Value SICAV, with a track record of 17 years.
The pact between the bank and the investment firm highlights
continued strong interest in private market investing in the
wealth sector. Also, the use of an evergreen structure shows how
such routes are used when investors seek to access these assets
for the first time. Firms such as Blackstone and Hamilton Lane
have promoted such structures for those who dislike the
closed-end, time-limited models of conventional private equity.
(See more on this trend here.)
The Partners Group fund is composed of more than 500 investments,
including direct transactions.
Partners Group, which has a heritage in Switzerland, runs
$45 billion in private wealth solutions; the entire business has
about $150 billion in AuM. As for Mediobanca, the
Milan-headquartered group has been developing its private banking
and wealth business, as covered
here and here.
