Partners Group is leaning into developed Asian markets as the region's inconsistent returns drive a bifurcation in manager quality. The Swiss-headquartered institution is seeking to selectively add mid-market managers in Australia, Martin Liew, head of private equity integrated investments for Asia, tells Private Equity International. "Value creation in Australia's mid-market is more visible and there are a lot of potential investment opportunities," he says, noting there will still be a limit to how many GPs it will seek to add. The investment giant previously completed a similar process in Japan and is now applying that model to Australia's developing landscape.

Partners Group's strategy reflects a broader trend of GPs differentiating based on quality and value creation capabilities in the current market environment.