Chicago-based custody bank Northern Trust is to provide the Swiss private equity company Partners Group with fund administration, depositary and banking services for its first long-term asset fund (LTAF), launched last month.
The UK-domiciled Partners Group Generations Private Credit LTAF focuses on providing defined contribution (DC) pension funds and other professional investors with access to a diverse range of private credit investment opportunities.
Northern Trust also supported the launch of Partners Group’s European Long Term Investment Fund (ELTIF) in 2024.
Laurence Everitt, head of Global Fund Services, UK, at Northern Trust, said. “We are delighted to develop our relationship with Partners Group by supporting its first LTAF.
“At Northern Trust we continue to see significant interest in use of this UK vehicle for distributing investment strategies and have the operating model and servicing expertise – across illiquid, semi-liquid and traditional assets – to support asset managers as they expand their offering for investors.”
Founded in 1996 and based in Zug, Partners Group is one of the largest firms in the private markets industry with over US$150 billion of assets under management (as of 31 December 2024).
