Just over 62% of shareholders turned out to vote on the resolution to wind down the company, after it announced on 5 October that it would not table a motion to reorganise the company. This followed a shareholder vote in which 74.1% of shareholders chose to wind down the trust rather than back a motion for a dual-share-class structure.

Chair of Partners Group Private Equity Peter McKellar welcomed the “clear mandate” from shareholders, confirming that “from 31 March 2027, the company expects to return available realisation proceeds to shareholders on a semi-annual basis, although more frequent returns may be made where circumstances permit.”

Following the vote, the company updated shareholders, confirming that there was “no free cash flow” available for buybacks as of 30 September 2026 and that it had not allocated additional capital to the share buyback programme.

It said in a statement: “The company currently has approximately EUR 4.8m remaining to fund share buybacks, that has not been utilised further to the allocations made in October 2025 and April 2026.

“Notwithstanding the Free Cash Flow calculation as at 30 September 2026, the board has approved an additional discretionary allocation of EUR 10 million for buybacks. The Company will seek to deploy this additional discretionary allocation, together with the remaining approximately EUR 4.8 million previously allocated to buybacks, over the period to 31 January 2027.”

It added: “The board believes it is important that now the company has commenced an orderly realisation of its entire investment portfolio with effect from the conclusion of the company’s extraordinary general meeting on 7 October 2026, and accordingly the capital allocation policy no longer applies, that capital is available to provide additional liquidity for buybacks, where appropriate, as the Company transitions into its realisation strategy.

“Divestment and investment activity remained overall contained and balanced during the quarter ended 30 September 2026, with portfolio distributions totalling EUR 4.8m, and investments totalling EUR 9.2m.”

It confirmed that the company’s liquidity position remained solid, with around EUR 29m in cash and equivalents and a fully undrawn EUR 150m credit facility.