After raising about $8 billion across its evergreen funds in 2024, Swiss investment firm Partners Group has launched a new evergreen fund to give institutional investors across Europe, the Middle East, and Asia access to its multi-sector royalty strategy.
The new evergreen fund, an addition to the new strategies that the firm launched last year, targets institutional investors, with plans to roll out a similar fund for private wealth investors later this year.
Evergreen funds, or semi-liquid funds, are open-ended vehicles that provide investors with more flexible liquidity options than typical closed-ended private funds that have a lock-up period of up to 10 years.
Partners Group said investors in its royalty evergreen funds will gain immediate exposure to its entire royalty portfolio, which comprises 30 royalty investments across entertainment, pharmaceuticals, and energy transition sectors, following eight new deals completed in the past six months.
The firm manages $45 billion in evergreen assets globally and has over $150 billion in total assets under management.
“Over the last few months, we have capitalised on several attractive market opportunities in the royalty space as we continue to build a truly diversified royalty portfolio,” said Stephen Otter, Managing Director and Head of Private Markets Royalties at Partners Group.
The firm’s recent investments include a stake in Warner Bros. Discovery’s catalogue of film and television music rights, which comprises over 500 titles, including hits like Harry Potter, Lord of the Rings, and Game of Thrones. Partners Group described the deal as one of the largest music rights transactions in history.
The company also acquired royalty-backed notes from Multimedia Music, a firm known for its collection of over 400 film and television music titles, including The Dark Knight and The Hunger Games.
In the pharmaceutical sector, Partners Group secured a royalty on the only FDA-approved non-surgical therapy for urothelial cancer, which may also apply to other conditions like bladder cancer.
The firm also committed to a specialised pharmaceutical royalty fund focusing on approved treatments developed by biotech and life sciences companies.
In the energy space, Partners Group structured a royalty linked to natural gas wells in Oklahoma’s Anadarko Basin, providing long-term exposure to US gas prices.
Founded in 1996, Partners Group has 1,800 staff members globally, of which more than 500 staff members are in Asia across Manila, Mumbai, Seoul, Shanghai, Singapore, and Tokyo.
