Partners Group takes $1bn Asia mandate as regional fundraising stalls

Partners Group has closed a $1bn private credit mandate with a single institutional investor in Asia. The money goes into senior and junior direct lending across Asia-Pacific, through an open-ended evergreen structure carrying both discretionary and co-investment tranches. The investor was not named.

Funds targeting Asian private credit have raised $1.5bn across nine vehicles so far in 2026. They raised $9.8bn across 30 fund closes in the whole of 2025, and $17.5bn across 46 funds at the 2022 peak, according to PitchBook data.

Mandates have held up where pooled funds have thinned. Partners Group says it has closed more than five mandates with major institutional investors in Asia over the past year, including €800m for a regional sovereign wealth fund investing in private equity and infrastructure across Asia and Europe. Apollo won the mandate to manage Singapore's $1bn private credit growth fund in July 2025, and KKR closed its Asia Credit Opportunities Fund II at $1.8bn in December.