Partners Group Holding AG is considering reducing the size of its evergreen funds for wealthy investors. Chairman Steffen Meister stated the firm may adjust these open-ended funds to better align with flow dynamics. The firm's overall investment strategy remains unchanged.
The decision follows a period of increased client withdrawals and a recent stock selloff. In early June, the firm capped withdrawals from a major evergreen private equity fund, causing shares to plummet. A recent short-seller report also pressured the company's performance during this period.
Evergreen funds accounted for approximately $56 billion of the firm's assets under management at the end of last year. These vehicles allow investors to make periodic redemptions. Partners Group shares rose slightly following the chairman's latest comments.