Switzerland-based alternative asset manager Partners Group has reported that its estimated net assets under management grew by CHF1bn to CHF25.4bn over the first half of the year, while di
Switzerland-based alternative asset manager Partners Group has reported that its estimated net assets under management grew by CHF1bn to CHF25.4bn over the first half of the year, while direct asset growth – new assets raised and asset growth within existing investment programmes – amounted to CHF3.8bn.
Partners Group’s private markets business lines, comprising private equity, debt and real estate, saw sustained demand and demonstrated continued strength, the group says, with direct asset growth of CHF3.5bn, equivalent to an annualised growth rate of 39 per cent.
According to the firm, these trends confirm a continued shift toward private market allocations by investors. Partners Group saw solid inflows across the whole spectrum of strategies, particularly its programmes focused on mezzanine investments, secondary opportunities, the Asia-Pacific region and European small- and mid-cap buyouts.
However, the group’s net asset growth was constrained by CHF1.4bn in primarily adverse foreign exchange movements and to a lesser extent negative performance in the liquid strategies and redemptions of CHF1.4bn in these strategies and the private wealth management business.
Partners Group says it is in the process of redefining its hedge fund strategy to combine its expertise in hedge funds, alternative beta strategies and private markets to address clients’ increased need for absolute return products in an increasingly challenging and highly correlated public market environment. Partners Group has managed these products since 2002.
The firm’s assets now consist of CHF19.0bn in private equity, CHF2.7bn in private debt, CHF400m in private real estate, CHF1.0bn in listed alternative investments, CHF1.5bn in hedge funds and CHF800m in its wealth management business.
Partners Group has continued to expand its staff at 10 offices worldwide, with the opening of two new offices in Beijing and Sydney over the past six months reflecting its determination to take advantage of emerging private market opportunities in Asia. The firm says its outlook for the second half of the year remains positive in terms of both investment opportunities and continued demand for alternative investments.
Partners Group manages a broad range of funds, structured products and customised portfolios with private equity, private debt, private real estate, listed alternative investments, hedge funds and alternative beta strategies for an international clientele of institutional investors, private banks and distribution partners.
The firm, which employs some 315 people at its headquarters in Zug and offices in Beijing, Guernsey, London, Luxembourg, New York, San Francisco, Singapore, Sydney and Tokyo, is listed on the SWX Swiss Exchange with a market capitalisation of more than CHF3.5bn, and is majority-owned by its 38 partners and principals as well as employees.
