Partners Group has selected Northern Trust for its new private equity European Long-Term Investment Fund (ELTIF) Evergreen Fund.
The fund is Partners Group’s first launch under the new EU ELTIF regulation enacted in January this year. Structured as a Luxembourg Société d'Investissement à Capital Variable (SICAV), the fund aims to provide investors access to evergreen fund features such as monthly redemptions, alongside the investor protections and simplified administration that the ELTIF 2.0 regime allows.
Markus Pimpl, managing director at Partners Group, comments: “Appointing Northern Trust to provide solutions for the Private Equity Evergreen ELTIF Fund expands our strategic relationship on the basis of its capability to support multiple asset classes as part of our private equity strategy, and to enable flexibility for individual and institutional investors as they invest in-line with our pro-rata allocation policy.”
Olivier Noël, country head, Luxembourg at Northern Trust, states: “Through our technology, fund structuring and investor servicing expertise, this appointment further evidences our consultative and technical capability to support asset managers through the lifecycle of their funds.”
