Partners Group, the Swiss-based private markets firm, has raised over $15bn (£11.2bn) for its fourth direct infrastructure programme.

The programme, which is over 40 per cent committed and has a seed portfolio of 11 assets, consists of a closed-ended fund as well as bespoke solutions that invest alongside it.

The investment themes underpinning the infrastructure fund are centred on power generation, AI build-out, energy security and independence. Seed assets include a US provider of mobile power generation, a Singapore-based data centre platform, and a developer of large-scale battery storage systems in Germany.

“Our thematic approach and ability to drill down into related sub-sectors has enabled us to build a highly diversified portfolio of primarily mid-market companies that offer significant value creation potential,” commented Esther Peiner, Partners Group’s global head of infrastructure. “The raising of our largest direct infrastructure program to-date is a testament to the appeal of our strategy as well as its top quartile performance.”

The firm said its direct infrastructure strategy – focused on global, mid-market, next-generation energy and utility platforms – has delivered returns of 2.2x nTVPI and 20.8 per cent nIRR across 21 exits since inception.

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A mix of new and existing clients, including public and corporate pension plans, sovereign wealth funds, insurance companies, and banks, committed to the firm’s latest programme.

“Investors are increasingly seeking the stable, inflation-protected returns and downside protection that infrastructure can offer,” added Peiner.

Partners Group currently holds over $186bn in assets under management globally and employs 2000 professionals. The firm recently disclosed it received $16bn in new client commitments during the first half of 2026, up from $12bn during the same period last year, as demand for its private markets strategies reached a record level.

The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, and real estate, among others.

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