Partners Group Targets $1.5B for Fifth RE Secondaries Program
Partners Group is returning to the real estate secondaries market with its fifth dedicated program, targeting $1.5 billion across a closed-end fund and a suite of bespoke mandates and other vehicles investing in the same strategy.
The program has already gained meaningful traction, holding a first close with over $650 million in commitments. It is seeded with an LP-led secondary portfolio spanning three global real estate funds with significant exposure to residential, industrial, and hospitality assets.
The strategy’s mandate encompasses GP-led secondaries, LP-led secondaries, and other liquidity solutions designed to serve sellers across the capital structure. “Our real estate secondaries strategy is highly tactical, providing liquidity solutions to GPs and LPs in a capital constrained market,” said Henrik Orrbeck, Co-Head of Real Estate at Partners Group.
Since 2008, Partners Group has invested $6 billion across more than 120 real estate secondaries transactions, and its global real estate portfolio carries a gross asset value of $56 billion spanning both direct and secondaries strategies.
The real estate fundraise follows Partners Group’s announcement in May of its Total Return Strategy, a new private equity offering targeting mid-teens total gross returns alongside a 5% to 8% initial gross annual dividend yield. Designed with lower leverage and greater duration flexibility than traditional buyout vehicles, TRS reflects the firm’s continued effort to offer institutional-quality solutions across the risk-return spectrum.