Key Takeaways
- • Partners Group is cutting management fees on its €6.6bn Global Value SICAV evergreen private equity fund as it seeks shareholder approval for a restructuring following elevated redemption requests, according to Bloomberg.
- • The fund would be split into two portfolios: a distributing vehicle holding older, underperforming investments, and a compounding fund targeting longer-term returns.
- • Distributing fund investors would receive fee reductions of at least 25 basis points for three years; compounding fund investors would receive cuts of up to 75 basis points until 1 January 2030.
- • Global Value imposed a 5% quarterly redemption limit in June after requests reached an estimated 9.8% in Q2; Q3 requests again hit the 5% threshold.
- • The shareholder vote is scheduled for the week of 9 November, with the two sub-funds expected to become operational on 30 November.
Summary
Partners Group is reducing management fees on its €6.6bn Global Value SICAV evergreen private equity fund as it seeks investor approval for a restructuring prompted by elevated redemption requests, according to a Bloomberg report. The Swiss private markets manager reportedly plans to divide the fund under an umbrella structure, separating older, underperforming investments into a distributing vehicle while transferring other assets into a compounding fund aimed at longer-term returns.
According to an investor presentation reviewed by Bloomberg, investors in the distributing fund will receive management fee reductions of at least 25 basis points for three years, while investors in the compounding fund will benefit from cuts of up to 75 basis points until 1 January 2030.
The concessions follow mounting liquidity pressure at Global Value. The fund imposed a quarterly redemption limit of 5% of net asset value in June after withdrawal requests reached an estimated 9.8% in the second quarter, and third-quarter requests again reached the 5% threshold. Partners Group also reportedly plans to lower the net redemption threshold for new share classes from 5% to 2.5% from 30 October, with the compounding fund expected to return to the standard 5% threshold once the restructuring has stabilised.
The changes are subject to a shareholder vote scheduled for the week of 9 November, with the two sub-funds expected to become operational on 30 November. The developments come as Partners Group generated CHF905m in management income in the first half of 2026, up 6% year-on-year, despite redemption pressures and a decline of almost 40% in its share price this year.
According to an investor presentation reviewed by Bloomberg, investors in the distributing fund will receive management fee reductions of at least 25 basis points for three years, while investors in the compounding fund will benefit from cuts of up to 75 basis points until 1 January 2030.
The concessions follow mounting liquidity pressure at Global Value. The fund imposed a quarterly redemption limit of 5% of net asset value in June after withdrawal requests reached an estimated 9.8% in the second quarter, and third-quarter requests again reached the 5% threshold. Partners Group also reportedly plans to lower the net redemption threshold for new share classes from 5% to 2.5% from 30 October, with the compounding fund expected to return to the standard 5% threshold once the restructuring has stabilised.
The changes are subject to a shareholder vote scheduled for the week of 9 November, with the two sub-funds expected to become operational on 30 November. The developments come as Partners Group generated CHF905m in management income in the first half of 2026, up 6% year-on-year, despite redemption pressures and a decline of almost 40% in its share price this year.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.