Fund database › Private Credit
Partners GroupLU2915435965Class PR EUR Acc
Partners Group Private Loans has extended predominantly first-lien secured direct loans across Europe, North America and Asia-Pacific since 2016 — one of the field's oldest credit evergreens, as a Luxembourg SICAV-SIF.
Monthly subscription; quarterly redemption with roughly one quarter's notice; the two-stage net gate is relieved by subscriptions in the same period. Neither a minimum holding period nor a redemption discount — the commitment arises solely through notice and limit.
Subscription from EUR 100,000 for institutional and private-wealth investors; not registered for distribution in Germany.
Almost a decade of lived redemption practice — hardly anyone else in the credit field can show that. The SIF wrapper dates from an earlier regulatory world; investors needing the ELTIF framework will not, so far, find Partners Group's credit expertise there.
Figures for class PR EUR Acc (LU2915435965) · product data 25 Sep 2026 · sources: prospectus (as at April 2026), PRIIPs-KID — full list under 08 documents.
Since the data series began in Mar 2025, the unit price has gained 4.0% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
24 monthly values, 15 derived from monthly returns · Source: secondary source (data portal), price feed / provider document · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results. The fund has been running since May 2016; a reliable NAV series of the class is available from Mar 2025.
What the prospectus permits: Predominantly Senior Secured Direct Loans; pro-rata allocation policy with the closed-ended Partners Group programmes
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
160 holdings; the five largest account for 7.8% of the fund. The fund reports no liquidity reserve.
Among the ten largest: 10 loans; 1 name not disclosed.
International bubble tea chain founded in Taiwan in 2006 that operates several thousand outlets worldwide, mainly through franchising …
Nemera (La Verpillière, France) develops and manufactures drug delivery devices, including inhalers, injectors and ophthalmic and nasal sprays, for pharmaceutical …
Undisclosed private healthcare provider in the Asia-Pacific region that Partners Group finances through a senior direct lending loan.
Aroma-Zone is a Paris-based French manufacturer and omnichannel retailer of natural cosmetics, essential oils and ingredients for homemade cosmetics.
UK provider of quality, compliance, audit and risk management software for regulated industries such as aviation, healthcare and financial services, headquartered in Nottingham.
German group of automation technology and special-purpose machinery companies that combines mid-sized automation specialists through a buy-and-build strategy.
The Access Group (Loughborough) is one of the largest UK providers of business management software, including ERP, HR, payroll and care-sector solutions …
Nomios is a European IT services provider and systems integrator for cybersecurity and networking, focused on France and the Netherlands with a presence in other European countries.
Boston-based Bullhorn provides cloud-based software for staffing firms and recruitment agencies, ranging from CRM and applicant tracking to time capture, billing and back office …
Provider figures for the credit portfolio, not calculated by semiliquid.info. Providers report yield, remaining life and credit ratings under differing definitions — the basis of calculation is therefore shown with every figure. A comparison across funds only holds where the basis is the same.
Positions and shares according to the provider; 1 of 5 names not disclosed; short descriptions by semiliquid.info from public sources; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 1.70%, class PR EUR Acc is well below the median of the asset class (2.05%). On top comes a performance fee of 10% above a hurdle of 0% — with a high-water mark.
For 100,000 EUR this means roughly 1,700 EUR per year.
For 100,000 EUR, a one-off up to 5,000 EUR on purchase and up to 5,000 EUR on redemption.
Based on the PRIIPs key information document of class PR EUR Acc, hence comparable across providers. Median: 32 Private Credit funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The price is the NAV on the valuation day — it is not known when the order is placed and is published only 21 business days later.
KYC/AML to be completed before transfer or acceptance, no deadline in days stated
The Board may set the cut-off differently at its discretion.
Price = NAV per share on this day.
NAV usually available on the 21st business day after the Dealing Day.
after NAV publication: 3 business days after NAV publication
An order placed today is invested in — days (—); the money is due on —.
Shown without a date because the prospectus does not quantify: cut-off. The remaining markers are calculated from the prospectus rules.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Valuation day | last business day of the month |
| Cut-off | 17:00 Luxembourg · (fixed calendar day) |
| Price | valuation day |
| NAV publication | NAV usually available on the 21st business day after the Dealing Day; valuation day last business day of the month |
| Payment | after NAV publication: 3 business days after NAV publication |
| Minimum investment | 100,000 EUR |
| Entry charge (max.) | 5% (Fund) |
| KYC / documents | KYC/AML to be completed before transfer or acceptance, no deadline in days stated |
| Business day | Business Day: a day on which banks are open for business in Luxembourg, London, Zurich and Zug for a full day. |
Dates calculated from the prospectus rules (bank holidays: CH, GB, LU); only the transfer agent’s confirmation is binding. Data as at 25 Sep 2026 · Documents: 08.
Units can be redeemed quarterly — with a volume limit (Gate) and without a lock-up. How quickly the money arrives and what happens if many want out at once is set out below.
Redemption day = last business day of each calendar quarter, cut-off = last business day of the preceding …
NAV per unit less redemption fee (up to 5%)
Net redemptions (excess of redemptions over subscriptions) are subject to a double cap per dealing day: 5% of …
NAV publication
A request made today is paid out on — — — days.
Shown without a date because the prospectus does not quantify: cut-off. The remaining markers are calculated from the prospectus rules.
Money typically within half a year — on average 173 days from decision to cash.
Rank 39 of 112 · rank 15 of 31 in Private Credit · no lock-up · no fixed redemption fee
Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 15 Apr 2026 · score run 16 Oct 2026 · How 173 days become 37 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | quarterly |
| Valuation day | quarter-end |
| Notice | 17:00 Luxembourg · (counted from month-end) |
| Price | quarter-end |
| Payout | 3 business days after NAV publication |
| Gate | 5% net of NAV of all new share classes (5% per quarter; additionally 20% per rolling 12 months) per quarter; additionally 20% per preceding 12 months on a rolling basis; the directors may reduce this to 10%/2.5%, for a maximum … |
| Scaled-back portion | carried forward automatically to the next dealing day |
| Redemption fee (max.) | up to 5% (discretionary) |
| Lock-up | none |
| Suspension | Exchanges closed/restricted; emergency renders disposal or valuation impossible; breakdown in communications or repatriation restriction |
| Liquidity tools | Redemption limits with carry-forward, redemption fee, run-off classes, redemption in kind, NAV suspension, Secondary Value Dealing. |
| Switch / transfer | possible only to Eligible Investors, KYC/AML in advance, entry in the unit register |
| Compulsory redemption | on loss of Eligible Investor status, breach of representations or missing information, a holding below one unit |
Net redemptions (excess of redemptions over subscriptions) are subject to a double cap per dealing day: 5% of the NAV of all New Share Classes excluding the run-off classes, calculated as at the immediately preceding valuation day, for the preceding three months, and 20% of the same NAV for the preceding twelve months. The same mechanism applies to the Old Share Classes in a separate pool.
The gate has two tiers and applies per Dealing Day: 5% of the NAV of all New Share Classes for the preceding three months AND 20% for the preceding twelve months; the board of directors may halve both limits to 2.5% and 10% respectively for up to two years. The Old Share Classes have their own bucket, calculated on identical terms.
Dates calculated from the prospectus rules (bank holidays: CH, GB, LU); only the transfer agent’s confirmation is binding. Data as at 25 Sep 2026 · Documents: 08.
22 classes. All cost and risk figures on this page refer to the basis class PR EUR Acc.
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Prospectus | 22 Apr 2026 | — |
| Key information document (PRIIPs KID) | 7 Jul 2026 | — |
| Factsheet / monthly report | 30 Jun 2026 | — |
| NAV series secondary source (data portal), price feed / provider document | 31 Aug 2026 | Performance (01) |
| Positions and reserve | 31 Jul 2026 | Portfolio (03) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption quarterly, with 5% gate per quarter. Subscribing today, it takes on average 173 days from decision to cash under the prospectus deadlines; a gate is not factored in.
Ongoing costs of 1.70% p.a. according to the PRIIPs KID for class PR EUR Acc; the median of the Private Credit funds in this database is 2.05%; plus a performance fee of 10%.
100,000 EUR in class PR EUR Acc.
Not as a retail investor. According to our evidence, in Germany it is open only to semi-professional investors (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the Partners Group Private Loans. Under the prospectus a gate of 5% per quarter applies.
Same asset class, similar sub-strategy.
Apollo Global Management · Part II SICAV · quarterly
Apollo Global Management · ELTIF 2.0 · quarterly
Apollo Global Management · ELTIF 2.0 · quarterly
Apollo Global Management · Part II SICAV · quarterly
Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.