Some of the country’s largest superannuation funds have been unable to withdraw investments in a $12 billion private equity fund run by European buyout giant Partners Group for more than four months amid growing worries about the performance and valuations of unlisted assets.
The Swiss firm is one of the world’s largest private equity managers, with more than $US185 billion ($264 billion) in assets, but has told investors in its Global Value Fund that it would not meet redemption requests in June, July or August. It met just 51 per cent of redemptions requested in May, according to investors who spoke on condition of anonymity.
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