Partners Group is considering a plan to transfer private credit loans worth €800 million, or $917 million, into a new continuation vehicle. This structure aims to extend the holding period of assets beyond the original terms of the existing funds.
The assets involved originate from the firm's 2018/2020 Private Markets Credit Strategies funds and various Multi-Asset Credit funds. Limited partners will have the option to either roll their commitments into the new vehicle or exit through a secondary sale.
As of June 30, 2026, the total private credit book of Partners Group reached $40.5 billion, making the proposed transaction account for approximately 2% of the portfolio. The firm manages a total of $186 billion in assets.
The broader market for credit secondaries has seen significant growth, with transaction volumes exceeding $20 billion in the first half of 2026, more than double the figure from the same period in 2025.
In August 2026, the firm also finalized a $1 billion private credit mandate in Asia, utilizing an evergreen structure that lacks a fixed termination date. Critics note that continuation vehicles may present potential conflicts of interest for managers.
