Partners Group’s Redemption Curbs Show Exposure to Rich Clients

Partners Group Holding AG has long taken pride in forging its own path.

The Swiss private equity firm downplays buyouts in favor of growing companies. The slogan “built differently to build differently” is emblazoned on its Baar, Switzerland headquarters while signage at the firm’s Colorado campus proclaims: “This Is Not Wall Street.”

A key differentiator — and growth driver — has been its early embrace of rich individuals. Partners Group was a leader in selling alternative investments to a broad swathe of wealthy investors, pioneering so-called evergreen funds that have no fixed end date and allow periodic redemptions.

This week ...