Partners Group closes multi-asset credit fund on €1bn

The fund has a broad mandate, investing globally across corporates, real estate and infrastructure.

Partners Group has closed its latest Multi-Asset Credit Fund (MAC III) on €1 billion, the company announced. The fund previously held a first close in July 2016.

The offering is able to invest across corporate, infrastructure and real estate credit. It has a global investment mandate.

This has allowed the fund to reach its final close relatively quickly, Christopher Bone, managing director at Partners Group, told sister publication PDI. “That allows us to build a portfolio pretty quickly,” he said.

The fund has deployed capital into 30 investments to date. Bone says this represents about three-quarters of the investments the fund is likely to make in total.

While the fund has a broad and global focus, Bone did say there were certain areas, particularly on the corporate side, which are of interest to Partners Group. “We like healthcare and business services quite a lot,” he said. “In general, we like businesses or assets with recurring revenue characteristics.” Bone also noted about 40 percent of the fund’s portfolio would be invested in US-domiciled credits.

Partners Group launched its first multi-asset credit fund in 2014, according to PDI data. The fund raised $700 million at its final close.