Partners Group, the independent alternative asset management company, has held the first close on its mid market buyout fund-of-funds called Partners Group Europe LP. The closing was for EURO150 million and the eventual target is EURO300 million. The only named investor in this closing is UBS Group. Partners will target funds in the EURO100 million to EURO400 million size range that typically invest in companies with enterprise values between EURO50 million to EURO300 million.
Fifteen per cent of the total pool of capital can be invested in secondary positions and up to 15 per cent can be used for direct co-investment opportunities arising from the GPs in which Partners Group Europe LP invests.