Partners Group Private Equity Fund, LLC 4

What Happened

• Partners Group Private Equity Fund, LLC (part of the Partners Group reporting group and a 10% owner) reported a sale of 449,960 shares of Life Time Group Holdings, Inc. (LTH) on 2026-05-21. The shares were sold at $32.51 per share for an aggregate value of approximately $14,628,200. The disposition is reported as an open-market or private sale (transaction code S).
• The 449,960 shares sold were allocated among affiliated entities: PG PE Fund (236,468), PG Series 61 (195,747), PG Access 83 (17,225) and PG PE II (520), per the filing footnotes.

Key Details

• Transaction date and price: 2026-05-21 at $32.51 per share (total ≈ $14,628,200).
• Shares held after the transaction (direct holdings reported): PG PE Fund 1,041,205; PG PE II 2,288; PG Access 83 75,846; PG Series 61 861,904 — a combined 1,981,243 shares.
• Filing date: 2026-05-26 (filed five days after the transaction). Form 4s are typically due within two business days of a transaction, so this filing appears later than the usual reporting window.
• Footnotes/structure: The entities are managed/indirectly controlled by Partners Group (PG USA is the investment manager of PG PE Fund; overall indirect control by Partners Group Holding AG). Each entity disclaims beneficial ownership beyond its direct holdings except to the extent of any pecuniary interest. The reporting persons may be parties to a Stockholders Agreement and identify a board representative (Andres Small).
• Transaction type: Institutional sale by a large shareholder (not an executive or option exercise).

Context

• This is an institutional disposition by a 10% shareholder group, not an executive-level insider purchase — sales by large holders can be routine portfolio management and do not necessarily signal company-specific views.
• Purchases are generally considered more indicative of insider confidence than routine sales; this filing documents a sizeable cashing out (~$14.6M) but provides no stated reason.
• The filing includes standard group and beneficial-ownership disclaimers; note the apparent late filing relative to typical Form 4 timing.