Swiss asset manager imposes quarterly redemption cap after investor requests reach 9.8% of net asset value amid market anxiety.
Partners Group Holding AG has capped redemptions at its $8.6 billion Global Value SICAV fund, restricting withdrawals to 5% of net asset value per quarter. The move follows a surge in redemption requests, which reached an estimated 9.8% in the second quarter, driven by private wealth clients seeking liquidity amid broader market unease in private assets.
The fund, an evergreen vehicle allowing periodic withdrawals, has seen increased pressure from retail investors, who account for a significant portion of its base. Partners Group manages approximately $185 billion across private equity, credit, real estate, and infrastructure, with evergreen funds making up a key part of its offerings.
Shares of Partners Group fell as much as 18.2% in Zurich trading, marking its steepest intraday decline on record. The stock is down roughly 30% year-to-date, reflecting investor concerns over redemption pressures and liquidity risks in private markets.