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Partners Group Caps Redemptions, Shares Fall 18%

6/4/2026

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Summary

Partners Group Caps

Partners Group capped redemptions on its $8.6 billion fund at 5% of NAV after Q2 requests rose to 9.8%, sending shares down up to 18.2%.
The firm expects repurchase requests of 6% for a Delaware evergreen vehicle and 3.5%-5% for other funds, totaling $9.7 billion.
Partners Group manages $185 billion and projects AUM growth to slow by 1%-2% this year and in 2027.

Summary

Partners Group Accused

Grizzly Research’s late-April report accused Partners Group of systematic overvaluation in its evergreen funds, likening it to the Wirecard scandal.
Partners Group called the allegations reckless, defamatory and deeply misleading and announced it is exploring legal action.
The stock fell 15.79% to €755.00, an RSI of 20.6 and a price 27.87% below its 200-day moving average, prompting analysts to warn of structural fragility in evergreen vehicles.

History

Historical Context

Wirecard, a German payment firm, grew into a DAX member by 2018 but faced mounting FT criticism from 2015. On 25 June 2020 it disclosed a missing €1.9 billion, its shares fell about 96% and the company entered insolvency, prompting BaFin and EU regulators to tighten fintech oversight. The Partners Group probe echoes those post-Wirecard reforms aimed at preventing similar overvaluation.

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Partners Group Caps

Partners Group capped redemptions on its $8.6 billion fund at 5% of NAV after Q2 requests rose to 9.8%, sending shares down up to 18.2%.
The firm expects repurchase requests of 6% for a Delaware evergreen vehicle and 3.5%-5% for other funds, totaling $9.7 billion.
Partners Group manages $185 billion and projects AUM growth to slow by 1%-2% this year and in 2027.

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