A 5d/2d/4d correspondence

We propose a correspondence between two-dimensional (0,4) sigma models with target space the moduli spaces of r monopoles, and four-dimensional N=4, U(r) Yang-Mills theory on del Pezzo surfaces. In particular, the two- and four-dimensional BPS partition functions are argued to be equal. The correspondence relies on insights from five-dimensional supersymmetric gauge theory and its geometric engineering in M-theory, hence the name "5d/2d/4d correspondence". We provide various tests of our proposal. The most stringent ones are for r=1, for which we prove the equality of partition functions.