Partners Group Next Generation Infrastructure

PG NGI

Overview Strategy Performance Allocations Key terms Share classes FAQ

Overview

Legal Name:

Partners Group Evergreen SICAV – Partners Group Next Generation Infrastructure

Manager:

Partners Group

Website:

https://www.partnersgroup.com/

Fundraising Status:

Open

Domicile:

Luxembourg

Legal Form:

Lux SICAV (S.A.)

Regulatory Regimes:

Lux UCI (Part II), EU AIF

Term:

Perpetual-Life

Base Currency:

USD

Launch Year:

2024

Inception Date:

Feb 1, 2024

Target Net Return:

10-12%

Size:

$1.1B (as of Dec 31, 2025)

No. of Investments:

500 (as of Dec 31, 2025)

Administrator:

Northern Trust Global Services SE

Investor Eligibility Segments:

Professional / Accredited, Institutional

Permitted Distribution Countries:

Denmark, Germany, Switzerland, United Kingdom, United Arab Emirates

Strategy

PG NGI targets value‑add private infrastructure equity globally, primarily via direct and secondary investments in operational, cash-generative infrastructure-related businesses. The evergreen SICAV emphasizes North American and European assets across communications, power (conventional and renewable), energy infrastructure, transport, social infrastructure, waste management and related sectors. Select primary fund commitments and a liquidity sleeve support diversification, downside protection, active ownership, operational improvements, platform building and sustainability considerations.

Asset Classes:

Infrastructure

Strategy:

Value Add (Infra)

Underlying Investment Type:

Direct investments, Secondaries, Primary Fund Commitments

Geographic Focus Region:

Global

Geographic Focus:

Europe, North America, Asia-Pacific

Sector Focus (GICS):

Communication Services, Energy, Utilities, Industrials

Sector Focus (not standardized):

Communication infrastructure, Conventional power, Energy infrastructure, Renewable power, Social infrastructure, Waste management, Transportation infrastructure, Water management, Infrastructure-related

Other Focus:

ESG Investment Focus

Leverage Limits Summary:

May borrow up to 40% of NAV for liquidity/investment; max leverage 410% gross, 200% commitment.

Investment Limits Summary:

Max 20% of NAV per investment; 50–90% direct, 10–50% funds, 0–20% liquidity; broad Europe/North America limits.

Performance

for I USD ACC share class

Total Returns (% Net of Fees)

Net returns (since inception)	I USD ACC
Total Return	40.9%
Annualized Return	19.6%
Best Month	(Feb 2024)3%
Worst Month	(Aug 2025)0.5%
Risk metrics (since inception)
Volatility	2.3%
Sharpe Ratio (4.3% risk-free)	6.7

Yearly returns (since inception)

Allocations

Sector allocation

Sector

as of Dec 31, 2025

Target

Sector

as of Dec 31, 2025

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Sector

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Underlying Investment Type allocation

Underlying Investment Type

as of Dec 31, 2025

Target

Underlying Investment Type

as of Dec 31, 2025

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Over time

Underlying Investment Type

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Geography allocation

Geography

as of Dec 31, 2025

Target

Geography

as of Dec 31, 2025

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Geography

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Key terms

for I USD ACC share class

Share Class

Minimum Subsribtion:

$1M

Currency:

USD

Inception Date:

Jan 31, 2024

Distribution Type:

Accumulating

Investor Type:

Institutional

ISIN:

LU2710929899

Liquidity

Gate:

5% of NAV of Shares outstanding per calendar quarter.

Gate Level:

Fund level NAV

Redemption Frequency:

Quarterly

Redemption Basis:

NAV per Share as of the Redemption Day

Subscribtion Frequency:

Monthly

Subscribtion Basis:

NAV per Share as of the month-end NAV

Fees

Management Fee:

1.25%

Management Fee Basis:

NAV + unfunded commitments

Calculated monthly; paid quarterly in arrears

Performance Fee:

15.00%

Subject to 5% annualised simple hurdle and High Water Mark; 100% catch-up; accrued monthly, paid quarterly in arrears.

Performance Fee Basis:

Change in NAV, Distributions

Hurdle rate:

5.00%

Simple annualized hurdle

Catch-up:

100.00%

Front load (subscription):

5.00%

Fund may levy up to 5% of Subscription Price; intermediary commissions may apply outside the fund

Back load (redemption):

5.00%

Up to 5% of redemption price.

Servicing fee:

0.10%

Maximum rate; paid quarterly out of Sub-Fund assets

Management Fee:	1.25%
Management Fee Basis:	NAV + unfunded commitments	Calculated monthly; paid quarterly in arrears
Performance Fee:	15.00%	Subject to 5% annualised simple hurdle and High Water Mark; 100% catch-up; accrued monthly, paid quarterly in arrears.
Performance Fee Basis:	Change in NAV, Distributions
Hurdle rate:	5.00%	Simple annualized hurdle
Catch-up:	100.00%
Front load (subscription):	5.00%	Fund may levy up to 5% of Subscription Price; intermediary commissions may apply outside the fund
Back load (redemption):	5.00%	Up to 5% of redemption price.
Servicing fee:	0.10%	Maximum rate; paid quarterly out of Sub-Fund assets

Share classes

Name	Min. Subscription	Currency	Inception	Distribution	Investor Type	ISIN	BBG Ticker
I USD ACC	1,000,000 USD	USD	2024-01-31	Accumulating	Institutional	LU2710929899	-
Class B eg	250,000 EUR	EUR	15 Mar 2018	Accumulating	Institutional	LU1987654321	FUND B LX
Class C Example	500,000 USD	USD	01 Jun 2019	Distributing	Professional	IE0123456789	FUND C ID
Class D eg.	100,000 GBP	GBP	22 Sep 2020	Accumulating	Institutional	GB00ABCDEF12	FUND D LN
Class E Example	25,000 EUR	EUR	03 Jan 2021	Distributing	Retail	LU9988776655	FUND E LX
Class F Example	1,000,000 USD	USD	10 Nov 2017	Accumulating	Institutional	US1234567890	FUND F US

FAQ

What is Partners Group Next Generation Infrastructure?

Partners Group Next Generation Infrastructure is an evergreen Lux UCI fund focused on Infrastructure and managed by Partners Group.

Who manages Partners Group Next Generation Infrastructure?

Partners Group Next Generation Infrastructure is managed by Partners Group, based in Baar, Switzerland.

How big is Partners Group Next Generation Infrastructure?

Partners Group Next Generation Infrastructure has a size of $1.1B.

What type of fund is Partners Group Next Generation Infrastructure?

Partners Group Next Generation Infrastructure is an open-ended / evergreen Lux UCI fund investing in infrastructure and domiciled in Luxembourg.

When was Partners Group Next Generation Infrastructure launched?

Partners Group Next Generation Infrastructure was launched on Feb 1, 2024 and is structured as a Lux SICAV (S.A.) vehicle with a perpetual-life term.

Where is Partners Group Next Generation Infrastructure domiciled and regulated?

Partners Group Next Generation Infrastructure is domiciled in Luxembourg under Lux UCI (Part II) and EU AIF.

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