Partners Group Global Income Fund (ASX: PGG) is a Listed Investment Trust that will provide investors with diversified exposure to private debt. It will be managed by Partners Group AG, one of the largest private markets investment managers in the world.
Based in Switzerland, the manager has a successful track record in the private equity, private real estate, private debt and private infrastructure spaces. Australian super funds QSuper and Hostplus have engaged the Swiss company for a number of years in terms of managing their exposure to private equity. The Trust will target a return of 4% above the RBA cash rate. It will be widely diversified with 150 to 200 underlying credit positions, with senior secured debt accounting for about two-thirds of the portfolio. Distributions are expected to be paid monthly.
We like this company given the reputable fund manager running the portfolio, the attractive level of income and relative capital security this company provides, and its exposure to an asset class that most investors are under-represented in.