Partners Group, the Switzerland-based alternative asset manager, has been selected as the manager for a private equity secondary mandate by the sovereign wealth fund Korea Investment Corporation (KIC). With this mandate, KIC aims to profit from current dislocations in the secondary market which offers high discounts to net asset value and attractive return potential. This mandate, which was included in the 30 June 2009 assets under management announcement, was now cleared for communication by our client.
Baar-Zug, 21 July 2009
This mandate is confirmation of Partners Group's strong position in Asia, with regard to both client and investment activities. The firm has four offices located in the Asia-Pacific region, with Singapore being the second-largest office worldwide following the headquarters in Zug.
Mr. Dong-Ik Lee, Head of the Alternative Investment Team at KIC, comments, “We are very pleased to launch this secondary investment mandate with Partners Group. We believe that leveraging a very strong and experienced manager like Partners Group is the right way to explore and profit from this market.”
Steffen Meister, CEO of Partners Group, adds, “We are extremely pleased and honored to work with the Korea Investment Corporation, which we consider to be one of the most prestigious sovereign wealth funds around the world and one of the most sophisticated investors in Asia. We look forward to further strengthening our relationship with KIC and to applying the combined expertise of our global team to selecting the best current investment opportunities in the secondary market for the benefit of KIC.”
About Partners Group
Partners Group is a global alternative asset management firm with over CHF 24 billion in investment programs under management in private equity, private debt, private real estate, private infrastructure, absolute return strategies and listed alternatives. The firm manages a broad range of funds, structured products and customized portfolios for an international clientele of institutional investors, private banks and other financial institutions. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, London, Guernsey, Luxembourg, Singapore, Beijing, Tokyo and Sydney. The firm employs over 350 people, is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of over CHF 2.5 billion and majority owned by its 37 Partners and all employees.