
Partners Group's Next Generation Infrastructure (NGI+) is now live on Pendle (maturity 10 Dec 2026). The market tracks the NAV of a fund from @PartnersGroup ($186B AUM) that has returned 48.8% net over 2.5 years (~17% a year), and Pendle is pitching LP as a way to earn more than 3x that.
PT on the fund can be acquired below NAV, locking a fixed 15.5% APY above what the fund itself returned over the past year — a defined-term bond-like position on private-infrastructure yield via Asseto Finance's tokenized $1B AUM strategy. Exits work by selling PT, YT or LP before maturity, or holding PT to maturity to redeem for NGI+ and swapping back to USDC on Reale.
Bonus limit order (LO) incentives are live on the market: orders placed within range earn $PENDLE at up to 100% APR, scaling with order size and time near the market rate, paid weekly. Pendle says a monthly DCA into the position would yield +39% more versus holding the fund directly.
Pendle
Pendle Earn enables you to obtain fixed yield or provide liquidity in a simple interface. Pendle Earn and Trade runs on the same set of contracts with a separate user interface to cater to different audiences.