Partners Group has been appointed as strategic partner and portfolio manager for Deutsche Bank’s first evergreen private markets fund, a vehicle designed to open access to alternatives for qualified private clients across the European Economic Area and Switzerland.

Developed in collaboration with Deutsche Bank’s asset management arm DWS, the fund is scheduled to launch in the third quarter of 2025. It will be offered in an ELTIF 2.0 evergreen format, providing investors with regular entry and exit options under normal market conditions, subject to an initial holding and notice period.

The fund will invest across private equity, private credit, infrastructure, and real estate, with diversification across direct deals, co-investments, primary, secondary, and evergreen opportunities. Partners Group will manage the portfolio, drawing on its own investment programmes as well as opportunities from other private markets managers. DWS will act as Alternative Investment Fund Manager. Learn more about Partners Group’s fundraising strategy by joining Iberia’s Largest Private Equity Conference in Madrid. 

Claudio de Sanctis, Head of the Private Bank and member of Deutsche Bank’s Management Board, said: “Private markets offer potential for long-term value creation and stability in client portfolios. With Partners Group as portfolio manager, clients will benefit from the deep expertise of the market leader in the evergreen area.”

Steffen Meister, Executive Chairman of Partners Group, added: “We are very pleased to have been selected as the exclusive partner for Deutsche Bank’s evergreen private markets solution. We look forward to working with Deutsche Bank and DWS in making institutional-quality private markets investments available to their private clients.”

DWS CEO Stefan Hoops said the partnership reflects the firm’s strategy of expanding access to private markets, combining distribution reach with specialist expertise.

Partners Group expects the fund to contribute positively to assets under management over time, though no material fundraising impact is anticipated in 2025.

The collaboration underscores the increasing role of evergreen structures in making private markets more accessible to private clients, while highlighting private equity’s expanding reach into Europe’s wealth management segment.

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