Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and the trading costs of reinvestment are not taken into account. Past performance is not a reliable indicator of future results.
Provider figures
These come from the factsheet, the PRIIPs KID or the monthly report. They may relate to a different reference date, a different share class or a longer period than the series above — the series starts with the first documented unit price, not necessarily with the launch. That is why the values sometimes differ.
Target return per the provider: According to the provider, the return profile sits between private equity and private credit
Provider figure or KID scenario — not a forecast by semiliquid.info. Target returns are not guaranteed.
02Strategy & portfolio
What the fund does and how the portfolio is put together.
Launch year2025
Fund sizeUSD 469mas at 30 Apr 2026 (monthly report)
CurrencyUSD
Income treatment—
SFDR—
Recommended holding—
Liquidity buffer—
Leverage limit—
Risk indicatornot documentedfrom the key information document (1 = low, 7 = high); it captures liquidity risks only to a limited extent.
Portfolio breakdown
Broken down using semiliquid’s common taxonomy — provider labels are mapped onto shared categories so that funds can be compared. Only published figures are used; nothing is estimated.
Sector breakdown
Actual portfolio% of NAVas at 30 Apr 2026
Royalties & intellectual property27.0%
Pharma & biotechnology24.0%
Oil & gas upstream24.0%
Media & entertainment15.0%
Decarbonisation infrastructure6.0%
Other4.0%
Source: Partners Group 'Evergreen Royalties Opportunities — Monthly report as of 30 April 2026' · Document
Geographic breakdown
Actual portfolio% of NAVas at 30 Apr 2026
North America95.0%
Asia-Pacific5.0%
Source: Partners Group 'Evergreen Royalties Opportunities — Monthly report as of 30 April 2026' · Document
Strategy
Asset-Based Lending
Three investment modes: purchase of existing royalties, creation of new royalties (royalty financing) and debt secured by royalties
Portfolio composition
broadly diversified portfolio from day 1; around 20 investments made in the last year alone
03Costs
The basis is the PRIIPs KID of the share class we track — which makes it comparable across providers.
Management fee
not documented
Total ongoing costs
not documented
Entry charge max.
not documented
Redemption fee
not documented
Performance fee
not documented
Hurdle rate
not documented
High-water mark
not documented
04Subscription & entry
How you get into the fund, and on what terms.
Subscriptionnot documented
Minimum investmentnot documented
Entry chargenot documented
Rec. holding periodnot documented
Subscription per the document
evergreen (ongoing); exact frequency not published
05Redemption & liquidity
Semi-liquid means redemption only on fixed dates, with notice periods and upper limits. This is how it works for this fund — in the order the redemption process runs.
1 · Lock-upnot documented
2 · Notice periodunknown
3 · Redemption datenot documented
4 · Gatenot documented
5 · Payoutnot documented
Redemption per the document
evergreen with periodic redemption windows; exact frequency not published
Gate per the document
not documented
Notice period
not documented
Lock-up
not documented
06Share classes
5 classes known. All cost and risk figures on this page apply to LU2911154891.
ISIN
Status
Min. investment
Ongoing costs
SRI
LU2911154891
basis of this page
not documented
1.94%
3/7
LU2911153653
documented
not documented
not documented
not documented
LU2911153737
documented
not documented
not documented
not documented
+ 2 more share classes
ISIN
Status
Min. investment
Ongoing costs
SRI
LU3173595276
documented
not documented
not documented
not documented
LU3173595359
documented
not documented
not documented
not documented
Note on the classes
The fund is named 'Partners Group Evergreen Royalties Opportunities' and is a sub-fund of the Partners Group Evergreen SICAV — a Part II SICAV, not an ELTIF; base currency USD. Partners Group does not maintain a dedicated product page; distribution runs through partners (Mediobanca in Italy since 11/2025, SCB in Thailand). The monthly report as at 30 Apr 2026 shows 5 classes. The main class is PC (USD) ACC (LU2911154891): open, clean, ongoing costs 1.94 %, SRI 3. The EB classes are early-bird classes; PC-EB is closed. The reference class in the report is EB-PC (USD) ACC. The first class launched on 2 Jun 2025; 18 Nov 2025 was the date of the Mediobanca announcement.
07Fund details & verification
Who stands behind the fund, who it is authorised for — and what the figures rest on.
AIFM / management company
Partners Group
Launch date
Partnership announced 18 Nov 2025
Eligible investors
professional HNW and UHNW clients of Mediobanca Private Banking
Distribution authorisation
Italy (exclusive distribution partnership with Mediobanca Private Banking)
All figures come from our analysis of provider documents (product data as at 19 Aug 2026, distribution data as at 12 Aug 2026) and have not been conclusively verified.
Important information. semiliquid.info does not provide investment advice and makes no recommendation to buy, sell or hold fund units — no ranking, no offer, no invitation to subscribe. Only the prospectus and the key information document (PRIIPs KID) of the respective fund are authoritative. We give no warranty for the accuracy, completeness or currency of the information. Semi-liquid funds invest in illiquid assets: redemptions are possible only to a limited extent and can be capped, deferred or suspended; there is a risk of total loss. Past performance is not a reliable indicator of future results. Read the prospectus and the key information document before making an investment decision and seek professional advice where appropriate.