Partners Group Holding AG shares fell a record 17%. The Swiss asset manager limited investor withdrawals from its $8.6 billion Global Value SICAV fund.
The firm activated a redemption gate after withdrawal requests reached an estimated 9.8% of the fund's net asset value. This volume exceeded the fund's 5% quarterly limit.
The move highlights growing investor anxiety regarding liquidity and valuations in private markets. The sell-off extended to sector peers including KKR, Blackstone, and EQT.
Partners Group warned that redemption pressure could slow its fundraising momentum through 2026 and 2027.