Partners Group, a Switzerland-based private markets assets manager, has sold its hedge funds managed account platform to Sciens Capital Management, an independent alternative asset manager headquartered in New York and London, in a cash and earn-out transaction.
The transaction represents the final step for Partners Group in focusing exclusively on private markets, with activities in private equity, private debt, private real estate and private infrastructure, an intention which the firm first revealed two years ago.
Steffen Meister, CEO of Partners Group, said: “We are pleased to have finalized the sale of the managed account platform to Sciens Capital Management and believe this will provide clients invested in the platform with a continued superior service offering in this demanding segment of the hedge fund industry.
“Transferring the platform will have a minimal impact of less than 1% on current assets under management and the terms of the sale allow Partners Group to benefit from asset growth achieved by Sciens Capital Management in the future.”