Northern Trust announced it is providing Partners Group 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. Its Private Equity ELTIF Ever green 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 Societe d'Investissement a 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 regimen aims to afford participants.