Partners Group has joined forces with BBVA to launch an evergreen private markets fund targeting Spanish private banking clients, expanding access to diversified private equity, credit, and real asset investments.

The new vehicle, named BBVA Open to Partners Group Mercados Privados IX, FIL, will invest exclusively in Partners Group-led opportunities. The evergreen structure allows for continuous capital inflows, enabling investors to maintain long-term exposure to private markets.

The fund will build a diversified portfolio spanning regions, sectors, and asset classes, including direct investments, co-investments, and primary and secondary fund opportunities.

Manuel Aloy, a member of management in Partners Group’s client solutions division, said the partnership reflects growing demand for private markets exposure among individual and private banking investors. “With more than 20 years of experience in offering bespoke solutions and a long-term track record of compelling investment returns, we are the ideal partner for asset managers, wealth managers, and other financial institutions looking to add or scale private markets within their product shelf,” he said.

The launch comes as European banks increasingly collaborate with global private markets managers to offer clients institutional-quality exposure to alternatives through open-ended fund structures.

Partners Group currently manages around $52bn in private markets globally and continues to expand its retail and private wealth channels through partnerships with leading banks and asset managers.

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