Partners Group raises $15 billion for private equity investing By Reuters
© Reuters. An exterior view and the entrance to Partners Group’s global headquarters, Zug, Switzerland. February 24, 2020. Partners Group/Handout via REUTERS
By Chibuike Oguh
(Reuters) – Partners Group Holding AG told Reuters on Monday it raised $15 billion for a private equity program to invest in assets such as technology, healthcare, and consumer goods companies.
Partners Group’s fourth direct equity fund was funded by $6 billion, with an additional $9B through separate managed accounts that were added to the funds. Partners Group chief executive David Layton stated in an interview.
Private equity firms have been busy making deals to capitalize on the economic recovery caused by COVID-19.
Partners Group reported that it has invested $6 billion so far to buy stakes in 17 businesses through its new private equity programme. Reedy Industries is based in Deerfield Illinois. Axia Women’s Health provides women’s health care. Pharmathen was acquired by Partners Group from BC Partners. Its shares were valued at 1.6 billion euros ($1.89billion).
The strategy we put into place in the previous programs is being continued. Layton explained that the main focus of Partners Group is to find sectors which are structurally sound and have potential growth while eliminating sectors that could be disrupted.
Partners Group announced that the company plans to use its remaining capital for its new private equity fund to invest in mid-market businesses with an enterprise value below $2 billion. They will be investing in companies in such sectors as beauty and personal care, sustainable agriculture and next-generation supply chain. Biopharmaceuticals are also included.
Partners Group raised 3 billion euro for its third flagship fund and had 3 billion in separate managed accounts. According to the company, that fund had a net return of 22% by June 2017, as per the report.
In 2009, the Partners Group’s inaugural buyout fund raised $800 million and in 2012 its successor fund received $1.8 billion.
Partners Group was established in Zug, Switzerland in 1996. The group has $119 Billion in assets and is managed across private equity and real estate as well as credit and secondary markets in Europe and the United States.
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