Fund database › Infrastructure
Partners GroupLU2710930129Class PC (USD) ACC
The Partners Group fund invests in next-generation value-add infrastructure — decarbonisation, digitalisation, new mobility — through secondaries and primaries, globally, as a Luxembourg Part II SICAV, launched in 2024.
Monthly dealing under a quarter-based net limit, with six weeks' notice; no lock-up for the main share classes. The monthly report openly states that outflows can be limited or suspended.
Subscription from EUR 10,000, for retail and professional investors depending on the country; currently not registered for distribution in Germany.
The thematic variant of the Partners Group infrastructure platform — the same evergreen mechanics as the Global Value family, but with a future-themes focus instead of a broad portfolio; among the field's thematic funds, the one with the longest manager history.
Figures for class PC (USD) ACC (LU2710930129) · product data 9 Oct 2026 · sources: prospectus (as at May 2026), PRIIPs-KID, Factsheet — full list under 08 documents.
Since the data series began in Jul 2024, the unit price has gained 17.8% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
26 monthly values, 23 derived from monthly returns · Source: price feed / provider document · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results. The fund has been running since Jan 2024; a reliable NAV series of the class is available from Jul 2024.
What the prospectus permits: Direct investments, secondaries, primaries
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
The five largest holdings account for 101.8% of the fund. 1.3% is held in the liquidity reserve — enough for less than one month of maximum redemptions.
How the reserve is invested: Listed equities in PG NXGN INFRA AAV Limited Non-ELTIF 0.6%. It covers less than one month of the maximum net redemption (at most 20% per year under the gate) — what that means for redemptions is in 06.
Among the ten largest: 6 equity holdings, 3 fund interests, 1 GP-led secondary; 1 name not disclosed.
Esentia builds, owns and operates natural gas pipelines in Mexico and the United States, transporting gas under long-term transportation contracts …
Middle River Power is a US independent power producer (IPP) with gas-fired power plants that are being expanded with on-site battery storage into “Hybrid Centers” for the energy transition.
Life Cycle Power is a US provider of mobile, distributed natural gas and multi-fuel power generation, supplying generating capacity on a rental and temporary basis.
Techem is a submetering service provider based in Eschborn that measures and bills heat and water consumption in rental apartments and also offers smoke detectors and drinking water …
Southern Water is the regulated water and wastewater utility for South East England (Kent, Sussex, Hampshire, Isle of Wight), headquartered in Worthing.
Continuation vehicle of Avenue Capital Group holding 69 aircraft leasing positions …
Undisclosed regulated water utility in England and Wales, according to the manager the fifth-largest in the region.
Positions and shares according to the provider; short descriptions by semiliquid.info from public sources; 5.4% is not allocated to any block in the source; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 3%, class PC (USD) ACC is well above the median of the asset class (2.42%). On top comes a performance fee of 15% above a hurdle of 5% — with a high-water mark.
For 10,000 USD this means roughly 300 USD per year; the cheapest class with a cost figure is PC$DRIPInc (2.92%, from 10,000 USD).
For 10,000 USD, a one-off up to 500 USD on purchase, nothing on redemption at present; the board may charge up to 5% (500 USD) — therefore not included in the liquidity score.
Based on the PRIIPs key information document of class PC (USD) ACC, hence comparable across providers. Median: 25 Infrastructure funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The price is the NAV at the end of the previous month — it is not known when the order is placed and is published only 21 business days later.
The Board may determine the notice period and cut-off time differently at its discretion …
Price = NAV at the end of the previous month.
NAV usually available on the 21st business day after the Dealing Day.
after NAV publication: 4 business days after NAV publication
An order placed today is invested in — days (—); the money is due on —. Miss the cut-off and you move to the next dealing day: cut-off —, invested from —.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Dealing day | 1st business day of the month |
| Cut-off | 10 business days before dealing day · 17:00 Luxembourg · (before the anchor date) |
| Price | previous month-end |
| NAV publication | NAV usually available on the 21st business day after the Dealing Day; valuation reference date last calendar day of the month, Valuation Point 17:00 Luxembourg |
| Payment | after NAV publication: 4 business days after NAV publication |
| Minimum investment | 10,000 USD |
| Entry charge (max.) | 5% (Fund) |
| Revocation | not addressed; in the event of a suspension the request may be withdrawn until the end of the suspension |
| Business day | banks open the whole day for non-automated business in Luxembourg, unless otherwise stated in a Supplement (p. 19); Supplement does not define any deviating |
Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 9 Oct 2026 · Documents: 08.
Units can be redeemed monthly — with a volume limit (Gate) and without a lock-up. How quickly the money arrives and what happens if many want out at once is set out below.
Quarterly redemption limit of 5% (net, including conversions and distributions), the Board may raise or …
Price = NAV per share on this day.
NAV at previous quarter-end (—)
NAV publication
A request made today is paid out on — — — days; from the cut-off to cash it is — days.
Money typically within half a year — on average 116 days from decision to cash.
Rank 14 of 112 · rank 3 of 23 in Infrastructure · no lock-up · no fixed redemption fee
Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 15 May 2026 · score run 16 Oct 2026 · How 116 days become 44 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | monthly |
| Valuation day | 1st business day of the month |
| Notice | 45 business days before redemption day · 17:00 Luxembourg |
| Price | valuation day |
| Payout | 4 business days after NAV publication |
| Gate | 5% net of NAV at the previous quarter-end per quarter |
| Scaled-back portion | carried forward automatically to the next dealing day |
| Redemption fee (max.) | up to 5% (discretionary) |
| Lock-up | none |
| Suspension | market/exchange closed; price sources unavailable; Force Majeure |
| Liquidity tools | Redemption in kind and redemption fee as LMTs under Art. 16(2)(b) AIFMD; in addition suspension and Side Pockets |
| Switch / transfer | in principle freely transferable; the fund may refuse in the case of a Prohibited Person or of legal, tax or registration consequences |
| Compulsory redemption | in the case of a Prohibited Person, failure to meet the Eligible Investor criteria, Late Trading/Market Timing, or failure to maintain the minimum holding |
The sub-fund deals monthly, but the redemption limit is quarterly: in each calendar quarter, net redemptions including the related switches and the distributions are limited to 5% of the NAV of the units outstanding at the end of the previous quarter, aggregated across all share classes.
The gate is quarterly although redemptions may be made monthly: the 5% limit per calendar quarter includes, in addition to the net redemptions and the related switches, the distributions of the sub-fund.
Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 9 Oct 2026 · Documents: 08.
34 classes. All cost and risk figures on this page refer to the basis class PC (USD) ACC; the cheapest class with a cost figure is PC$DRIPInc (2.92%, from 10,000 USD).
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available. 10 classes are closed to new subscriptions.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Prospectus | 9 Jun 2026 | — |
| Factsheet / monthly report | 30 Jun 2026 | — |
| Key information document (PRIIPs KID) | 7 Jul 2026 | — |
| NAV series price feed / provider document | 31 Aug 2026 | Performance (01) |
| Positions and reserve | 30 Jun 2026 | Portfolio (03) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption monthly, notice period 45 business days before redemption day, with 5% gate per quarter. Subscribing today, it takes on average 116 days from decision to cash under the prospectus deadlines; a gate is not factored in.
Ongoing costs of 3% p.a. according to the PRIIPs KID for class PC (USD) ACC; the median of the Infrastructure funds in this database is 2.42%; plus a performance fee of 15%.
10,000 USD in class PC (USD) ACC.
Not as a retail investor. According to our evidence, in Germany it is open only to semi-professional investors (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the Partners Group Next Generation Infrastructure. Under the prospectus a gate of 5% per quarter applies.
Same asset class, similar sub-strategy.
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Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.