Supporting One of the First ELTIF 2.0-Compliant Funds Launched for European Investors

Northern Trust (Nasdaq: NTRS) today announces it is providing Partners Group (SIX Swiss Exchange: PGHN) with fund accounting, transfer agency, depositary and corporate secretarial services for its new European Long Term Investment Fund (ELTIF)-compliant Private Equity ELTIF Evergreen Fund.

Founded in 1996 and based in Switzerland, Partners Group is a leading global private markets firm with US$147 billion of assets under management (as of 31 December 2023). It seeks to generate strong returns by capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders.

Its Private Equity ELTIF Evergreen Fund is Partners Group’s first launch under the updated European Union regulation for ELTIFs enacted in January this year and is one of the industry’s first of this type. The new ELTIF 2.0 regime is intended to facilitate European investment into private market assets via semi-liquid funds and related strategies, including by individuals not considered to be professional investors.

Structured as a Luxembourg Société d'Investissement à Capital Variable (SICAV), the fund’s objective is to provide investors access to evergreen fund features such as monthly redemptions, alongside the investor protections and simplified administration that the ELTIF 2.0 regime aims to afford participants.

Markus Pimpl, Managing Director at Partners Group, commented: “Appointing Northern Trust to provide solutions for the Private Equity Evergreen ELTIF Fund expands our strategic relationship on the basis of its capability to support multiple asset classes as part of our private equity strategy, and to enable flexibility for individual and institutional investors as they invest in-line with our pro-rata allocation policy. We thank the team for its collaborative engagement throughout the planning and launch of this fund.”

Olivier Noël, country head, Luxembourg at Northern Trust, said: “We are delighted to expand our relationship with Partners Group as it extends its range of semi-liquid strategies. Through our technology, fund structuring and investor servicing expertise, this appointment further evidences our consultative and technical capability to support asset managers through the lifecycle of their funds – as they address the significant opportunity in this fast-evolving part of the funds industry.”

Northern Trust’s Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and data solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2024, Northern Trust had assets under custody/administration of US$16.5 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

Europe, Middle East, Africa & Asia-Pacific:

Camilla Greene +44 (0) 20 7982 2176 Camilla_Greene@ntrs.com

Simon Ansell + 44 (0) 20 7982 1016 Simon_Ansell@ntrs.com

US & Canada:

John O’Connell +1 312 444 2388 John_O’Connell@ntrs.com

http://www.northerntrust.com

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