Partners Group's infrastructure secondaries strategy generates USD 1.5 billion in distributions during H1 2025 10.07.2025, 10:00 Uhr von EQS News Jetzt kommentieren: 0

• The distributions to Partners Group's clients stem from full and partial exits across both LP-led portfolios and GP-led investments
• The full exits are expected to deliver returns of around 20% nIRR and 2.4x nTVPI
• The strategy focuses on investing in mid-market opportunities and providing solutions for complex seller situations

Partners Group, one of the largest firms in the global private markets industry, has generated around USD 1.5 billion^[1] in distributions for the clients invested in its infrastructure secondaries strategy during the first half of this year. Partners Group is a pioneer in the infrastructure secondaries market and has closed more than 60 investments globally since 2006.

The distributions stem from full and partial exits across both LP-led portfolios and GP-led investments with an average holding period of under five years. The transactions represent infrastructure assets in North America and Europe.

The full exits relate to four investments in US power generation and grid integration projects. This includes an investment in a leading energy transition focused independent power producer as well as three different investments with LS Power, an infrastructure developer, investor, and operator since 1990, which recently announced the sale of a ~13 GW portfolio of power generation facilities and a ~6 GW virtual power plant / distributed energy platform. Pro forma net returns to Partners Group’s clients from these full exits are expected to be around 20% nIRR and 2.4x nTVPI^[2].

Darpan Kapadia, Chief Operating Officer, LS Power, says: "Partners Group is a long-standing partner, where for more than a decade we have deepened our collaboration across multiple primaries, secondaries, and co-investments. As active members of the advisory board for several of our funds, we appreciate Partners Group’s deep industry insights and forward-thinking perspective. The successful exits are a testament to our identification of value in critical US power infrastructure, which is increasingly being reflected in markets more broadly."

Partners Group’s Infrastructure Partnership Investments business focuses on LP-led portfolios, GP-led investments, and complex situations globally across high conviction themes, such as flexible energy. Partners Group focuses on the mid-market, which offers several key advantages including a greater ability to influence transactions and secure proprietary opportunities, highly attractive valuation levels, and closer collaboration with selling LPs.

Dr. Dmitriy Antropov, Head Infrastructure Partnership Investments, Partners Group, says: "Our direct-like underwriting approach enables us to build a thorough understanding of the underlying assets in a portfolio, including relative valuations and future value creation potential. This has allowed us to consistently capture highly attractive returns for our clients. In the wake of increasing demand, we are on track to invest between USD 1.5 billion and USD 2 billion in infrastructure secondaries this year, whilst maintaining our focus on identifying deep value and largely transacting outside competitive processes."

Marc Meier, Managing Director, Infrastructure Partnership Investments, Partners Group, adds: "In a volatile environment with limited liquidity, we are very pleased to provide substantial distributions to our investors. Across our track record, we have on average received initial capital back within five years of investing, demonstrating our ability to quickly return capital to clients. The attractive performance this year further cements our leadership in this space, where we have been active for nearly two decades across multiple cycles."

^[1] Refers to transactions that have either signed or closed.

^[2]Past performance is not indicative of future results. The net target IRRs and multiples above are provided for informational purposes only and are believed to be reasonable and sound under the current circumstances. Targets are not a guarantee, projection, or prediction of future performance and are not necessarily indicative of future results. Individual assets may pursue different strategies, have varying performance levels and be subject to risks associated with private equity investments. Target returns and multiples are calculated using assumptions and estimates regarding the fund’s size, leverage, rate of investment, and income. Actual investment pace, purchase and sale prices, costs and current income and other returns received on investments, investment hold periods, and other factors may differ significantly from the assumptions used to calculate the target returns. The target returns and multiples herein are presented on an aggregate annually compounded basis. Net returns represent gross returns after deductions for investment management fees, performance fees, subscription secured credit facility debt service, and Fund-level expenses, which, in the aggregate, may be substantial. The target information contained herein is as of the date hereof and may change. Note that these figures are projections as of June 2025 across four (near) fully realized transactions as announced by the underlying GPs.