Partners Group launches evergreen multi-sector private credit income strategy

Partners Group has launched an evergreen global multi-sector private credit income strategy for institutional and private wealth investors, Alternative Credit Investor reported on 9 October. The private markets firm, which the report says runs $186bn (£140.5bn), is targeting returns in the high single digits to low double digits, generated largely through income.

The portfolio is intended to span senior direct lending, credit secondaries, fund financing, royalties, opportunistic credit and liquid credit, with a developed-market focus across Europe, North America and Asia-Pacific.

Andrew Bellis, Partners Group's global head of private credit, said the opportunity to combine complementary income-generating strategies has increased as private credit markets grow in scale and maturity. He added that the strategy capitalises on differences in sectors, market structures and lending dynamics across regions.

Partners Group says the multi-sleeve approach is designed to create natural offsets across the portfolio. If slower merger and acquisition activity reduces direct lending opportunities, the strategy can pivot towards credit secondaries or net asset value financing.

Partners Group says its private credit platform manages $40bn across senior and junior direct lending, private credit secondaries, fund finance, broadly syndicated loans and collateralised loan obligations. Royalties and opportunistic credit, named as sleeves of the new fund, are not part of that platform list.

The launch follows Partners Group's close of a $1bn Asian private credit mandate in August, an open-ended evergreen with a co-investment sleeve, as this publication reported. Both vehicles are open-ended; the difference is scope, with the mandate focused on Asia Pacific and the income fund global and multi-sector.