Partners Group has launched an evergreen global multi-sector private credit income strategy as investors increasingly hunt for high yields and stable cash flow.

The private markets firm, which has $186bn (£140.5bn) in assets under management, is offering the fund to institutional and private wealth investors around the world.

The fund’s portfolio will span senior direct lending, credit secondaries, fund financing, royalties, opportunistic credit and liquid credit, with a focus on developed markets in Europe, North America and Asia-Pacific.

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Partners Group said the strategy is targeting returns in the high single digits to low double digits, generated largely through income.

“As private credit markets continue to grow in scale and maturity, the opportunity to combine complementary income-generating strategies has increased,” said Andrew Bellis, global head of private credit at Partners Group.

“The strategy provides this exposure whilst capitalising on differences in sectors, market structures, and lending dynamics across regions.”

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The firm said the fund’s diversified approach is designed to create natural offsets across the portfolio. For example, if slower merger and acquisition activity reduces direct lending opportunities, the strategy can pivot towards credit secondaries or net asset value financing.

Partners Group manages $40bn in private credit across senior and junior direct lending, private credit secondaries, fund finance, broadly syndicated loans and collateralised loan obligations.

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