Partners Group Lifts $1.5 Billion Real Estate Secondaries Fund as Insiders Inject CHF 20 Million into Beaten-Down Stock

A Swiss asset manager under siege from a US short seller is fighting back on two fronts — with its own cash and a fresh private-market fund. Partners Group has launched a $1.5 billion real estate secondaries program, securing $650 million in commitments at its first close, even as the company denies claims that its open-ended Evergreen structures face a freeze. The move comes as management pours roughly CHF 20 million of personal capital into the firm’s own shares, signaling confidence in the face of a 30% year-to-date slide.

The turmoil traces back to early June, when Partners Group capped quarterly redemptions at 5% for its $8.6 billion Global Value SICAV after withdrawal requests surged to nearly 10% of net asset value. The so-called “gate” spooked retail investors, but the company stresses that the vehicle continues to distribute cash from portfolio companies — 15% last year and 8% so far in 2026. Three other Evergreen funds are also experiencing above-average outflows. Management categorically denies any plan to halt redemptions completely.

Short seller Grizzly Research has piled on, alleging that the Evergreen funds are overvalued by as much as 40% and that some holdings are booked incorrectly. Partners Group has branded the claims defamatory and filed a lawsuit. The attack adds pressure to a share price already trading at 767.00 euros, dangerously close to the 52-week low of 733.00 euros hit in early June. The stock’s relative strength index has sunk to 28.7, deep in oversold territory, and its distance from the 200-day moving line has widened to over 25%.

Should investors sell immediately? Or is it worth buying Partners Group?

Behind the headline numbers, the client split tells a more nuanced story. Roughly 80% of Partners Group’s assets under management come from institutional investors, who tend to be stickier. The redemption wave is concentrated among the 20% retail client base that uses the Evergreen open-end structures. As a result, the core institutional business remains resilient, and the company still forecasts gross new money of $26 billion to $32 billion for the full year. Management does acknowledge a headwind of 1% to 2% from the Evergreen turbulence in the second half.

Founder Fredy Gantner has described the selloff as a “massive overreaction” while conceding communication missteps. To back up that conviction, the firm opened an extraordinary trading window for insiders, leading to the CHF 20 million in purchases. The next major data point arrives on July 15, 2026, when Partners Group updates its assets under management. If institutional inflows keep the growth trajectory stable, analysts see a fundamental base for a re-rating. For now, the oversold RSI and the new $1.5 billion real estate secondaries program offer tactical support — provided the stock can hold above the 733.00 euro floor.