Partners Group Backs Scanntech Round While Rewiring Its Debt, Staff and Fund Line-Up

Partners Group has stepped in as co-lead on a US$180 million Series F financing round for Scanntech, a deal led by investment firm L Catterton. The Swiss asset manager is committing capital through its private equity growth strategy — a signal that it intends to keep seeding new investment themes even as the broader market stays unforgiving.

That fresh deployment sits alongside a far busier agenda behind the scenes, spanning debt refinancing, personnel changes and a reworking of the firm's fund shelf.

Keeping speculators off the cap table

Management is working to keep hedge funds away from the credit claims of three portfolio companies, according to Bloomberg. The matter concerns the refinancing of roughly €6 billion in liabilities across Emeria SASU, the Ammega Group BV and Breitling AG — all three carrying debt that matures in 2028.

By steering the process itself, Partners Group aims to limit the sway speculative lenders can exert over operating decisions, restructuring the looming maturities early and on its own terms.

Buyout desk trimmed worldwide

The firm has also reshaped its own ranks. Bloomberg reported that dozens of positions in the private equity team were cut or shifted elsewhere, with some staff subsequently leaving the company. The team numbers more than 200 people, and the changes ran across hierarchy levels worldwide. Partners Group said the unit's overall size remains in line with its long-term average and that operational leadership capacity has been strengthened. Behind the moves lies an effort to lift returns in the division against client expectations.

A listed vehicle winds down

On the fund side, shareholders of London-listed Partners Group Private Equity Limited voted 99.9% in favour of an orderly realisation of their portfolio. The wind-down is run by the trust itself and does not affect Partners Group Holding AG directly. Proceeds from portfolio sales are scheduled to be paid out to investors in half-yearly tranches starting 31 March 2027.

New evergreen credit, and a split for Global Value

While closed-end vehicles are being wound up, the group is pushing ahead with open-ended formats. About a week ago it launched a global multi-sector private credit income strategy housed in an evergreen vehicle, aimed at institutional investors and wealth-management clients alike. Management is targeting high single-digit to low double-digit returns, generated mainly from running income.

The established Global Value SICAV evergreen strategy is getting a makeover too. Partners Group has proposed splitting the €6.6 billion fund into two sub-portfolios — one distributing, one accumulating — giving investors who need liquidity an orderly exit while long-term holders stay exposed to newer investments.

Shares still deep in the red

The industry's headwinds are visible in the stock. Partners Group closed Friday at €655.20, a modest gain of 1.1% on the day, leaving the shares down 38% since the start of the year. Market capitalisation stands at €16.56 billion.