Saturday, 6 February 2016
Last updated 5 hours ago
Sep 13 2007 | 11:42am ET
One private equity fund is making its investors a happy bunch: Baar-Zug, Switzerland-based Partners Group has held a final close on its latest vehicle, Partners Group Global Value 2006, at €400 million (US$554.5 million), and is already cashing out on some of its investments.
The fund will implement a relative value strategy to invest in direct, secondary and listed p.e. investments. To date, the fund is already 39% invested, according to the firm, and will soon begin to distribute its proceeds to investors.
The distributions will predominantly result from exits in its secondary portfolio, including a multiple of 4.5x achieved on an investment in a company specializing in the global research laboratory industry as well as a 3.9x multiple received from an investment in a computer network services company. Additionally, one of its direct investments, Paris Re, a reinsurance company, has filed for an initial public offering.