Swiss alternative asset specialists Partners Group has raised €282m for its final close of Partners Group Global Mezzanine 2005, beating its €250m target.
The fund will aim to invest 70% in mezzanine funds, with the remaining 30% focused on direct mezzanine tranches on private equity backed deals. Partners Group has already committed 55% of the fund, with €112m invested in funds and €43m in direct investments.
The fund is Partners Group’s first fund dedicated to the global mezzanine market. In May it closed its first ever mezzanine fund, Partners Group European Mezzanine 2005, on €265m. Both the global and the European vehicles were launched in 2005.
The closing comes less than a month after Partners closed Partners Group European Buyout 2005, another fund-of-funds, on €279m. This will focus exclusively on European small- and mid-cap buyout partnerships and direct investments. The fund has to date committed €114m to nine European buyout funds.