Partners Group has closed its infrastructure secondaries program at more than $5.5 billion, betting that value creation rather than entry-price discounts will drive returns. The program comprises a $1.7 billion closed-end fund alongside bespoke mandates and other vehicles that invest in parallel, with new clients accounting for more than 70% of committed capital. Already over 25% committed across 20 seed investments, the capital pool includes a lead investment in a continuation vehicle for a global commercial aviation leasing portfolio with 69 assets. Dr. Dmitriy Antropov, head of private infrastructure partnership investments, said the firm's direct-style underwriting has delivered attractive returns across cycles, noting that a typical secondary is marked at around 1.3x cost 12 months after closing. The close comes just three days after Partners Group closed its fourth direct infrastructure program at more than $15 billion, 50% larger than its predecessor.
Partners Group Holding AGPartners Group closed its infrastructure secondaries program at over $5.5 billion, indicating strong fundraising success and investor demand for its investment strategy.