Swiss private markets heavyweight Partners Group recorded a 4% increase in assets under management (AUM) in 2024, reaching $152bn, driven by strong fundraising momentum.

The firm secured $22bn in new commitments, with evergreen funds accounting for $8.4bn, or 39% of total inflows.

Partners Group highlighted 2024 as a record year for its evergreen investment strategies, attributing the success to the continued expansion of its private wealth distribution network. The firm launched seven new evergreen strategies, bringing its total in this segment to 20 funds. These vehicles now represent 32% of its total AUM.

The firm’s financial performance also outpaced expectations. Full-year profits climbed 12% to CHF 1.1bn, while performance fees reached CHF 511m, exceeding market forecasts of CHF 429m. Encouraged by the results, investors pushed Partners Group’s share price up 1.7% in morning trading. Hear more about fundraising efforts in the DACH region by joining the DACH Private Equity Conference in Munich.

Despite ongoing challenges in the exit environment, the firm achieved $18bn in realisations last year—a 53% increase from 2023. The company’s largest evergreen fund remains the $17bn Partners Group Private Equity (Master Fund) for US investors, while its flagship European evergreen product, the Global Value Sicav, has grown to $10bn.

Partners Group’s ability to scale evergreen strategies underscores a broader shift in private markets, as firms adapt to evolving investor demand and alternative capital structures.