Partners Group adjusts evergreen fund approach, shares under pressure in Zurich trade

By Julia Schmitt, Sector & Peer Group desk. Reviewed prior to publication on 2026-06-26, 10:04.

Partners Group (CH0024608827) has come under marked scrutiny this month after capping withdrawals from one of its evergreen private equity funds, a move that has coincided with a pronounced slide in the shares on SIX Swiss Exchange as reported by Reuters. The Swiss alternative asset manager is now signaling that future evergreen vehicles could be somewhat smaller to better match client flows, while reiterating that its existing liquidity mechanisms remain intact.

What Reuters and Bloomberg report

According to a recent Reuters dispatch based on a Bloomberg interview, Partners Group Chairman Steffen Meister said the firm is reviewing its open-ended funds and may opt to keep them "somewhat smaller" over time to align size with inflow and outflow dynamics. In the same interview he stressed that the group does not see a need to overhaul its overall strategy despite the recent redemption pressures and market reaction. The comments follow Partners Group's decision on June 3 to limit withdrawals from an approximately 8 billion dollar open private equity evergreen fund after heightened client redemption requests, a move that drew attention across the global asset management sector.

The Reuters coverage notes that Partners Group's statement to investors emphasized that the firm has no plans to change its established liquidity framework and does not intend to freeze any of its evergreen vehicles, highlighting that the portfolios are described as robust and adequately liquid within target allocation ranges. This reassurance seeks to address investor concerns that have emerged after several high-profile episodes globally in which open-ended alternative investment funds faced significant redemption spikes, prompting stricter gates or full suspensions.

Sector context and peer comparison

In the Reuters article, Partners Group is cited in the broader context of global asset managers that have increasingly relied on evergreen or semi-liquid structures to bring private markets exposure to a wider investor base. The report mentions that the announcement to cap redemptions has contributed to renewed questions about the risk management of such vehicles, leading to a wider drop in asset manager stocks as investors reassessed the balance between yield and liquidity. While the article does not name specific peers, the sector includes firms such as Blackstone and KKR, whose own semi-liquid products have grown rapidly in recent years, creating a benchmark against which Partners Group's strategy is informally measured.

So far this year, Partners Group shares have declined by around 34 percent, according to the Reuters summary, underperforming many diversified financials and asset management names. This year-to-date performance puts the stock among the weaker names in the European listed alternatives segment, where liquidity events in evergreen products can quickly affect sentiment even when underlying portfolio metrics remain solid. Sector analysts have therefore focused on how firms calibrate fund size, redemption terms and communication, as each adjustment can influence the perception of stability and client alignment in a business that relies heavily on long-term commitments.

How Partners Group earns its fees

Partners Group generates most of its revenues through management and performance fees on private equity, private debt, private real estate and infrastructure mandates for institutional and private clients worldwide. A growing part of its asset base sits in evergreen funds, which are open-ended vehicles designed to offer periodic liquidity while investing primarily in illiquid private market assets. These structures typically charge ongoing management fees based on net asset value and may include performance-linked components over longer horizons, aligning the firm's income with the scale and success of the underlying portfolios.

Where the Partners Group shares trade today

The Partners Group shares (CH0024608827) trade on SIX Swiss Exchange, with recent quotes around 950 Swiss francs per share in Zurich as of 2026-06-26, 09:45, according to exchange data. This price level reflects the roughly 34 percent year-to-date decline reported by Reuters and places the market capitalization in the multi-billion Swiss franc range, keeping the stock within the ranks of major Swiss-listed financial groups.

Disclaimer: This article is for informational purposes only and does not constitute investment advice, a recommendation to buy or sell securities, or any other form of financial guidance. Figures and dates are based on sources cited and may change over time.