Partners Group, the Swiss private markets firm, has imposed a redemption gate on its Global Value SICAV fund, capping quarterly withdrawals at 5% of net asset value after investor redemption requests surged to 9.8% of NAV in the second quarter of 2026. The move, announced on June 3, is designed to prevent fire-sale losses on illiquid assets. CEO David Layton stated the measure protects remaining investors.
Shares of Partners Group plunged as much as 17% to a 52-week low, with the ripple effects felt by peers KKR and Blackstone amid increasing redemption activity across private credit vehicles throughout 2026. Partners Group signaled it may extend similar gating to other vehicles, including a large US evergreen fund.
Analysts warn that forced asset sales could reveal significant gaps between marked-to-model valuations and realized prices.