GLOBAL - Partners Group, the independent alternative asset manager, has held of an initial closing of its Premier fund, with commitments of E137m.
Premier is a convertible bond with an underlying fund of managed hedge funds accounts. The fund has an annual 1% coupon and a maturity of ten years. Issuance proceeds are to be invested into a portfolio of different hedge fund strategies - convertible arbitrage, merger arbitrage, long/short equity, equity market neutral, active and passive managed futures.
At maturity, investors receive the higher of either the principal of the bonds or the NAV (Net Asset Value)of the funds
Partners Group has over US$4bn of hedge fund and private equity programmes under management and has operations in Zug, New York and Guernsey.
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