Partners Group has selected Northern Trust to provide fund administration, depositary, and banking services for its newly launched private credit-focused Long Term Asset Fund (LTAF), the firm’s first under the UK’s evolving long-term investment regime.

Launched in April 2025, the Partners Group Generations Private Credit LTAF aims to offer defined contribution pension schemes and other professional investors access to a diversified set of private credit opportunities. The strategy aligns with Partners Group’s broader efforts to expand long-term private market solutions to institutional capital.

Founded in 1996 and headquartered in Switzerland, Partners Group manages over $150bn in assets across private equity, credit, infrastructure, and real estate. The firm launched a similar ELTIF-compliant evergreen private equity fund in 2024, also supported by Northern Trust.

“We are delighted to develop our relationship with Partners Group by supporting its first LTAF,” said Laurence Everitt, Head of Global Fund Services, UK, at Northern Trust. “We continue to see significant interest in the use of this UK vehicle for distributing investment strategies and have the operating model and servicing expertise to support asset managers across illiquid, semi-liquid, and traditional assets.”

Northern Trust, which reported $16.9tn in assets under custody/administration and $1.6tn in assets under management as of 31 March 2025, provides a full range of fund servicing and operational support for complex private market strategies.