Uncovering Trusts – Partners Group Private Equity (PEY): Providing balanced exposure to direct private equity investments

In this episode, our director of content for investment companies, Milosz Papst talks about Partners Group Private Equity (PEY), focusing on the company’s realisations, investments and distributions to shareholders. This is our first podcast on this UK-listed investment holding company domiciled in Guernsey that provides equity capital to private companies primarily in the middle and upper-middle market. Therefore, Milosz starts with an introduction to the company and its investment manager, Partners Group, which is one of the largest firms in the global private markets industry. He then explains how PEY’s investment strategy works in practice by discussing its investment in PCI Pharma Services. Milosz comments on the transactions that contributed to the company’s more than €200m realisation proceeds received in 2025. He elaborates on the company’s dividend policy and well-structured capital allocation framework introduced in 2024, which resulted in the announcement of a €15m buyback programme in 2025. He concludes the episode by summarising PEY’s recent investment activity.

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About Uncovering Trusts: Uncovering Trusts is a podcast run by Edison analysts, which is released every two weeks. Subscribe to hear analyst interviews on how investment trusts maximise returns while managing risks for investors.