KKR, Ares, Blackstone tumble premarket as Partners Group caps private equity fund withdrawals
Partners Group has implemented a cap on withdrawals from its Global Value SICAV fund due to high redemption requests. The firm limited redemptions to 5% of net asset value after requests reached 9.8%. This move reflects a broader trend among private equity firms facing similar pressures from investors seeking to withdraw funds.
- ▪Partners Group capped withdrawals from its Global Value SICAV fund at 5% of net asset value.
- ▪Redemption requests for the fund hit 9.8%, prompting the cap.
- ▪The fund constitutes about 4.8% of Partners Group's total assets.
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The Zurich-listed firm has moved to curb investor redemptions in its Global Value SICAV fund, an $8.6 billion so-called 'evergreen' private equity vehicle, at 5% of net asset value, after redemption requests hit 9.8%, according to a Bloomberg report.The fund represents about 4.8% of Partners Group's total asset base. David Layton, Partners Group CEO, told Bloomberg that the redemption pressure seen in private credit is now spreading into other asset classes.The cap chimes with similar measures taken by several U.S.
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