Partners Group launches new Total Return Strategy

• The Strategy will focus on control private equity investments designed to deliver both recurring income and long‑term equity appreciation
• The Strategy is targeting mid-teens total gross returns, alongside a targeted initial gross annual dividend yield of approximately 5-8%
• The investment focus will be on assets in resilient, foundational sectors that exhibit strong durability and limited disruption risk

Partners Group, one of the largest firms in the global private markets industry, today launches its new Total Return Strategy ("TRS" or "the Strategy"), a control private equity strategy focused on lower leverage, income-generating investments designed to deliver both recurring income and long‑term equity appreciation.

The Strategy will target high-quality businesses globally with durable cash flows and strong market positions across foundational sectors, including industrial manufacturing, distribution, transportation & logistics, healthcare, consumer products and services, and business services. Target assets will exhibit long-term resilience, essential demand, and limited exposure to technological disruption.

Through employing conservative capital structures and prioritizing sustainable distributions alongside disciplined value creation, the Strategy aims to deliver accelerated cash yields, reduced financial risk, and greater duration flexibility relative to traditional buyout strategies. TRS is targeting mid-teens total gross returns, alongside a targeted initial gross annual dividend yield of approximately 5-8%.

The Strategy complements Partners Group’s existing private equity, private credit, infrastructure, real estate, royalties, and special opportunities offerings, further expanding the firm’s range of differentiated solutions tailored to client objectives. TRS will leverage Partners Group's global investment team and platform, including its sourcing network, thematic research, entrepreneurial governance model, and industry-leading value creation and operating capabilities.   

David Layton, Chief Executive Officer, Partners Group, says: "As private markets continue to evolve, investors are increasingly seeking strategies that balance income generation with equity upside while managing downside risk. Our Total Return Strategy is the first of its kind in the industry and reflects our ability to adapt to changing market conditions and evolving client preferences. Given the scale and characteristics of the target opportunity set, we see significant potential to grow this strategy over time."

Todd Miller, Partner, Head Total Return Strategy, Partners Group, adds: "The Strategy builds on Partners Group’s deep sector expertise, but with a distinctly longer-term and lower-risk approach that unlocks access to a new set of high-quality assets not typically targeted in traditional buyouts. We aim to invest in market-leading companies with strong free cash flow and durable competitive positions, including select businesses with moderate cyclicality. Supported by Partners Group's active ownership approach and a rigorous governance framework, we believe the Strategy can consistently deliver attractive risk-adjusted outcomes across market cycles."