Partners Group (OTCH: PGPHF) issued a statement in response to "unfounded market rumors" that the firm is considering additional liquidity restrictions or a freeze on its evergreen vehicles.
"Partners Group has no intention of altering any documented liquidity mechanisms and has no plans to freeze any of its evergreen vehicles, given their portfolios are healthy and they have sufficient liquidity in line with the target allocations," the firm said.
The two evergreen funds in question have generated returns of roughly five times invested capital since inception and continued to post strong results in 2025, the company noted. The funds produced approximately 15% in realizations last year, with similar levels expected in 2026.
Their liquidity positions are further supported by ongoing distributions from underlying portfolio companies, which totaled about 15% in 2025 and 8% year-to-date in 2026, as well as access to undrawn credit facilities. Both funds remain active investors and continue to accept new subscriptions, the firm noted.
The statement follows the company’s update last week that subscriptions into its evergreen lineup are expected to exceed redemptions in the first half of 2026. For the second half of the year, the firm said net assets under management growth could face a 1% to 2% headwind from its evergreen platform, with a similar impact expected in 2027.
“The industry has experienced a period of heightened volatility across open-ended evergreen fund flows. This trend started in private credit vehicles and has recently spilled over to private equity. Two of the firm's private equity evergreen funds offered through the private wealth channel have been impacted by these dynamics,” the firm wrote.
Partners Group has more than $185 billion in assets under management globally. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, royalties and special opportunities.
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