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Partners Group (USA)
Partners Group was founded in 1996 in Zug, Switzerland, by Alfred Gantner, Marcel Erni, and Urs Wietlisbach — three former McKinsey consultants who built...
Partners Group (USA)
Partners Group was founded in 1996 in Zug, Switzerland, by Alfred Gantner, Marcel Erni, and Urs Wietlisbach — three former McKinsey consultants who built a private markets firm around direct investing rather than fund selection. The US arm, Partners Group (USA) Inc., operates from New York and Denver, serving as the firm's primary North American hub. The firm invests globally across four core asset classes: private equity, private debt, real estate, and infrastructure. It targets control-oriented buyouts, growth equity, and direct lending, with a stated emphasis on mid-market companies. Publicly disclosed holdings include a stake in Techem, a German energy services firm, and ownership of SkySails, a wind technology company (per Partners Group, 2023). The North American team focuses on deals across the US and Canada, with additional coverage in Latin America through co-investments. Partners Group employed over 1,800 professionals globally as of 2024, with the US offices housing investment, client relations, and operational teams. The firm raised its flagship Partners Group Direct Investments fund in 2023, with a $15 billion target (per Bloomberg, 2023). It also operates Partners Group Foundation, a philanthropic vehicle focused on education and social mobility. The Denver office, opened in 2018, houses a 30-person team focused on co-investments and secondaries. The firm's structural differentiator is its direct-investment model — it builds and operates portfolio companies directly, unlike traditional fund-of-funds private markets firms. Succession is structured with David Layton as CEO (since 2021) and three founding partners serving on the board, creating a clear governance line from the founders to professional management.
General information
Firm type
Asset Manager
Year founded
1996
AUM
$50–100 billion (per Partners Group, 2024)
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
Denver, CO
Principals
David Layton
Partner, Chief Executive Officer
Cyril Amet
Partner, Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Partners Group USA?
Investment decisions are overseen by Cyril Amet, who serves as Chief Investment Officer globally, and David Layton, CEO. The North American team is led by regional heads who report into Amet. The firm's investment committee includes senior partners from each asset class (per Partners Group, 2024).
How does Partners Group source proprietary deal flow?
Partners Group uses a direct sourcing model that relies on its 200-plus investment professionals globally, operating through sector-focused industry clusters. The firm builds proprietary deal flow through relationships with management teams, advisors, and its own operational network. It does not rely on intermediaries for deal generation (per Partners Group, 2023).
Does Partners Group participate in fund commitments or only direct deals?
Partners Group invests primarily through direct private equity, debt, real estate, and infrastructure investments. It also manages dedicated secondaries and co-investment funds. The firm broadly offers customized mandates for institutional clients, allowing participation in both direct deals and pooled vehicles (per Bloomberg, 2023).
What investment stages does Partners Group typically target?
The firm targets control-oriented buyouts and growth equity in mid-market companies across private equity. In private debt, it focuses on direct lending to mid-market borrowers. Real estate and infrastructure investments span value-add and core-plus strategies. Its secondaries business acquires portfolios of LP interests and direct assets.
Which sectors does Partners Group explicitly avoid?
Partners Group has not publicly stated explicit avoidance sectors, but its publicly disclosed portfolio concentrates on defensive, cash-flow generative industries including energy, business services, and healthcare. The firm avoids early-stage venture investments and start-up-stage companies given its mid-market focus (per Partners Group, 2023).
How is Partners Group related to its Swiss parent?
Partners Group (USA) Inc. is the wholly owned US subsidiary of Partners Group Holding AG, a publicly traded Swiss company (SIX: PGHN). The US entity operates as the North American investment and client-services arm, with full integration into the global investment committee and compensation structure.
What is Partners Group's known posture on co-investments alongside external GPs?
Partners Group executes co-investments through its dedicated co-investment vehicles, primarily in private equity and infrastructure. These deals are sourced through its direct relationships and executed alongside its own portfolio companies. The firm does not typically participate in traditional fund-of-funds structures (per FT, 2023).
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