Partners Group has completed a $1 billion private credit mandate for a large Asia-based institutional investor, using an evergreen vehicle designed for ongoing deployment.

The announcement detailed that the strategy targets Asia-Pacific direct lending, spanning both senior and junior positions. Partners Group said the portfolio is intended to be diversified across industries and countries and focused on higher-quality borrowers.

The mandate is structured to give the client a long-duration allocation that can be adjusted over time, while also meeting specific pacing needs, the firm said. Partners Group also pointed to a 15-year history of investing in private credit across the region.

Kevin Lu, Chairman of Asia, Partners Group, commented: “The latest mandates that we’ve closed are further examples of institutional investors in Asia looking to build private markets exposure in their home region. We have seen this trend gain momentum recently across multiple asset classes. Within private credit specifically, a growing number of sovereign wealth funds and insurance companies, particularly in Southeast Asia and Japan, are increasing allocations to the asset class due to the attractive risk-adjusted returns currently available compared to public fixed income portfolios.”

Partners Group said it has signed more than five institutional mandates in Asia over the past year, according to Mailing-ircockpit. One example cited by the firm was a $926 million (€800 million) assignment for a regional sovereign wealth fund tied to private equity and infrastructure exposure across Asia and Europe.

Andrew Bellis, Global Head of Private Credit, Partners Group, said: “We are very pleased to close this significant new mandate, which will enable our client to build credit exposure within a dynamic region that is of increasing importance to the global economy. The concentration of highly differentiated economies in the region also creates natural diversification benefits. We are a pioneer in this market and look forward to building the portfolio.”

Partners Group said it set up its first Asia office in Singapore in 2004 and now has more than 550 employees across offices including Hong Kong, Manila, Mumbai, Seoul, Shanghai, Singapore, and Tokyo. 

The firm said it oversees more than $40 billion in private credit assets under management.

Private capital markets in Asia-Pacific continued their recovery in the first half of 2026, with improving liquidity supporting gains in private equity and venture capital despite geopolitical tensions, tariff uncertainty, inflation and high energy costs.

According to PitchBook, the rebound has been driven less by falling interest rates and more by stronger market liquidity and regional structural factors. Exit activity and distributions have improved, while fundraising has reopened for larger, established managers. However, the recovery remains uneven: exit values are rising even as the number of exits falls, suggesting that a small number of large deals are driving the overall gains.

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