Firm Updates

Cloudflight, a leading digital transformation services provider, has completed the acquisition and integration of paiqo, a data and AI specialist focused on the DACH region, which was announced last year. The acquisition has led to a four-fold increase in new client wins and a double-digit rise in revenues at Cloudflight. The acquisition of paiqo has helped Cloudflight transform into an AI services provider that can help customers address the high failure rates of enterprise AI pilots. This occurs when pilots are not properly integrated into company processes and data, resulting in agents that lack the context required to be useful. Cloudflight's work is achieving measurable results for its customers, with a grocery retailer experiencing a double-digit reduction in food waste and a water treatment technology specialist delivering a double-digit improvement in inventory performance. Partners Group, a leading global private markets firm, acquired Cloudflight through its private equity strategy in 2023.

Trond Straume, Managing Director, Private Equity, Partners Group, says: "paiqo was a targeted acquisition that has moved Cloudflight into the highest-growth part of its market and given management a differentiated proposition that few European players can match. This is a great example of our transformational investing approach in action, where we add strategic value by acquiring smaller specialists that we can scale."

Europe 

 Private Equity

Partners Group has further strengthened its direct infrastructure team in Europe with several senior hires. This includes Philip Butcher, Timm Degenhardt, and Sarah Johnson. Philip Butcher joins as a Managing Director based in London later this month and will be responsible for originating and executing new direct investments, with a focus on digital and transport infrastructure in Europe. Philip joins from Canada Pension Plan Investment Board ("CPP Investments"), where he spent 15 years, rising to Managing Director in the Infrastructure Group and most recently leading the group's global data center strategy. Timm Degenhardt will join as a Managing Director based in Zug, Switzerland, in March 2027. Timm will focus on asset management across Partners Group’s European infrastructure portfolio. Timm previously spent over five years at OMERS Infrastructure, the infrastructure investment arm of the Canadian pension plan, as Managing Director with responsibility for European portfolio companies. Sarah Johnson joined as a Senior Lead Asset Manager in London in September 2026 from iCON Infrastructure, where she worked closely with management teams and boards to implement value creation initiatives across the manager's portfolio.

Europe 

 Infrastructure

Partners Group has launched its French New Living Strategy ("the Strategy") to invest in large residential real estate developments across France. The Strategy aims to aggregate a portfolio of 2,000 units of Class A young adult housing within the next year, with a target of EUR 300 million in total Gross Asset Value ("GAV"). The Strategy will leverage Partners Group's pan-European network and local presence in France to source attractive off-market opportunities. The Strategy will be available to clients through Partners Group's direct real estate programs. Under the Strategy, Partners Group has already acquired 560 apartments across two transactions in Greater Paris, namely Choisy-le-Roi in the south and Pantin in the north-east. 

Henrik Orrbeck, Global Co-Head of Real Estate, Partners Group, says: "The Strategy is in line with our thematic focus on the European living sector. Housing supply in Europe's major cities has not kept pace with demand, while demographic change and the declining affordability of homeownership continue to drive the need for high-quality rental accommodation. France is a compelling market in which to address that need." 

Image credit: Antoine Mercusot

Europe 

Real Estate 

Parmaco (or "the Company"), a leading provider of modular buildings in the Nordics, has launched Parmaco Protect, a dedicated offering that combines modular building systems and specialized protective solutions for defense, security, and critical infrastructure applications. Parmaco Protect provides specialized protective and shielding structures, either as rapidly deployable or long-term solutions, together with easily relocatable operational facilities and accommodation. Parmaco Protect is already gaining commercial traction, with rental agreements representing 21,000 sqm and secured sales contracts covering a further 8,000 sqm of relocatable accommodation. The addition of protective capabilities through Parmaco Protect is also opening up cross-selling opportunities for Parmaco's core business, where existing buildings can be retrofitted with new protective features. Since acquisition, Partners Group has supported the implementation of value creation initiatives focused on expansion into adjacent sectors, targeted add-ons, and the ramp-up of additional capacity. As a result, the Company has delivered stronger performance, with EBITDA expected to increase by 14% for full-year 2026.

Carsten Koenig, Managing Director, Infrastructure, Partners Group, says: "We continue to have very strong conviction in Parmaco due to its market leadership, high-quality customer base, robust profitability, and long-term growth prospects."

Europe 

 Infrastructure

Velvet Care (or "the Company"), a leading vertically integrated hygiene paper manufacturer in Central Europe, is targeting a doubling in sales by the end of 2028. Partners Group, a leading global private markets firm, acquired Velvet Care in 2024 on behalf of its clients. To drive a doubling in sales by the end of 2028, Velvet Care is building a new 40,000 sqm greenfield plant in Poland. Once fully operational, the new plant will increase the Company's overall capacity by around a third. In parallel, Velvet Care has established a new sales platform in Germany that will target large retailers across German, Austrian, and Swiss markets, primarily with deliveries from the new plant. Since Partners Group's acquisition, Velvet Care has experienced strong growth, supported by a targeted add-on and the ramp-up of additional capacity. This has led to revenues rising by over 30% and EBITDA more than 50%.

Milorad Andelic, Managing Director, Private Equity Goods & Products, Partners Group, says: "After delivering strong growth at Velvet Care since our acquisition, we have set some ambitious targets for the next few years. We see an opportunity to expand capacity and build the Company's footprint in some of Europe's largest markets."

Europe 

 Private Equity

Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients, has sold its Spanish Urban Logistics Portfolio (or "the Portfolio") to M7 Real Estate. Partners Group started aggregating the Portfolio in 2019 through a joint venture with Grupo Aristeas. The Portfolio is comprised of 12 standing prime logistics assets in Madrid and Barcelona and totals 108,000 sqm. It is 88% let to 14 occupiers, providing a stabilized and well-diversified income profile, with strong rental reversion potential. The high-quality, modern assets have an average construction year of 2015 and hold either BREEAM "Very Good" or "Good" certification. Partners Group, which holds the majority stake in the joint venture, and Grupo Aristeas pursued a value creation plan focused on an aggregation strategy, which involved buying and developing high-quality assets in prime locations with highly liquid unit sizes of c. 9,000 sqm. The sale is a partial realization of Partners Group's broader Spanish Logistics Portfolio, which includes two remaining development assets, and delivers strong distributions and attractive returns for the firm's clients. 

Europe 

Real Estate