Switzerland-based investment firm Partners Group raised €7.4 billion from investors in the first half of 2019, pushing its asset under management 9% higher to €80 billion ($91 billion).
The fundraising focused on new programmes in direct private equity, infrastructure and real estate opportunities as well as multi-asset credit and senior loans, Partners Group said in a statement.
Private equity accounted for half the total assets at €40 billion as of 30 June 2019. The share of private debt was 22% (€17 billion), private real estate 16% (€13 billion) and private infrastructure 12% (€10 billion).
Partners Group says it focuses on all four asset classes in India, though it has so far made only PE-style bets in the country.
It made its first investment in India in 2013 when it acquired a majority stake in CSS Corp through a $270-million leveraged buyout.
The investment firm is selective in its approach and closed its second deal only three years later. Partners Group, along with homegrown private equity firm Kedaara Capital, acquired a majority stake in Aavas Financiers Ltd in early 2016. It subsequently sold part of its stake through the public offering of Aavas.
In 2018, Partners Group and Kedaara acquired Gurugram-based Vishal Mega Mart Pvt. Ltd from private equity firm TPG.
The same year, it also bought GlobalLogic Inc, a software research and development services provider.
A query sent to Partners Group on its India strategy didn't elicit any response immediately.
The firm didn't disclose the asset-wise breakup of the new commitments raised from investors. However, data for 2018 shows growing preference for private debt.
In 2018, Partners Group raised €13 billion. The share of private debt in new commitments rose to 37% in 2018 from 26% in 2017. The share of new private equity commitments rose to 39% from 36% but that of real estate dropped to 13% in 2018 from 22%. The share of infrastructure commitments fell to 11% from 16%.
The firm expects to raise €13-16 billion in 2019. It also expects higher allocation to private credit and infrastructure by about 50% each this year, according to an investor presentation.
