Partners Group's Miami Gambit: Leveraging Latin America's Infrastructure Boom

The global private markets firm Partners Group has long been a shrewd allocator of capital in high-growth sectors, but its recent $150 billion pivot into the Americas—marked by the July 2025 launch of its Miami office—is a bold bet on Latin America's infrastructure renaissance. By merging its private equity expertise with Empira Group's real estate acumen, Partners Group is positioning itself as a key beneficiary of urbanization, tech adoption, and sustainability trends across the region. This move underscores a strategic geographic diversification that could redefine its role in shaping the future of logistics, data centers, and affordable housing.

The Miami-Empira Synergy: A Blueprint for Cross-Border Growth
The Miami office, shared with Empira Group—a residential real estate specialist Partners Group acquired in early 2025—serves as a nexus for two critical advantages: local expertise and vertical integration. Empira's $14 billion portfolio of residential assets across Europe and the U.S., along with its focus on green transition and real estate credit solutions, aligns perfectly with Partners Group's thematic bets on “New Living” and “Decarbonization & Sustainability.” This partnership is not merely a cost-saving office-sharing arrangement; it's a structural integration of complementary strengths.

Consider the logistics sector: Partners Group's investment in Gateway Fleets, which electrifies commercial vehicle fleets, gains exponential value when paired with Empira's ability to secure land and develop sustainable warehouses near tech corridors. Meanwhile, Miami's proximity to the Caribbean and Latin America—coupled with its status as a financial hub—provides a launchpad for scaling these strategies.

The firm's allocation of 45% of its $150 billion AuM to North America (up from 38% in 2020) signals confidence in the region's potential. Yet this is not just about geographic expansion—it's about unlocking cross-border synergies. The Miami office's leadership, helmed by Jose Mahomar (Global Head of Consultant Relations) and Rafael Aregger (Head of U.S. Investments at Empira), ensures seamless coordination between private equity deals and real estate development. This duality positions Partners Group to capitalize on sectors where demand is soaring:

1. Logistics Infrastructure: Latin America's e-commerce boom (projected to hit $200 billion by 2027) requires modernized warehousing and electrified fleets. Gateway Fleets' technology, combined with Empira's land development, could dominate this space.
2. Tech Infrastructure: Miami's tech corridor and Partners Group's stake in EdgeCore data centers highlight the firm's focus on digital backbone investments. With Latin America's internet penetration rate rising (now 65% vs. 85% in the U.S.), data center demand is primed to explode.
3. Affordable Housing: Empira's expertise in residential development—particularly in transition-to-green projects—answers a pressing need. Urbanization in cities like Bogotá and São Paulo is outpacing affordable housing supply, creating a $100 billion annual gap in the region.

Why Investors Should Take Note
Partners Group's Miami play is a masterclass in thematic investing. By concentrating on sectors tied to urbanization and decarbonization, it avoids the volatility of commodity-driven markets. The firm's track record in private markets—where it holds a 12% annualized return over the past decade—gives it an edge in underpenetrated regions like Latin America.

The key catalyst here is geographic diversification: Miami's role as a gateway to Latin America reduces reliance on saturated U.S. markets. The region's GDP growth (projected at 2.8% in 2025) and rising middle class (400 million consumers by 2030) offer a long runway for infrastructure investment.

Investment Recommendation
For institutional investors seeking exposure to Latin America's growth, Partners Group's private equity and infrastructure funds offer a compelling entry point. Consider:
- Private Equity: The firm's focus on tech-enabled logistics and real estate development aligns with high-margin opportunities in undercapitalized markets.
- Infrastructure: Investments in data centers and green housing tap into structural trends with minimal correlation to public equities.

The 45% North American AuM allocation is a vote of confidence, but the Miami-Empira partnership's true value lies in its ability to de-risk emerging markets. By leveraging local partnerships and thematic expertise, Partners Group is not just following trends—it's defining them.

In short, this is a bet on the future of Latin America's urban economy. For investors willing to look beyond headline inflation and political risks, Partners Group's Miami gambit could be the cornerstone of a high-growth, low-correlation portfolio.