Partners Group, an alternative asset manager based in Zug, Switzerland, has reported that its estimated assets under management reached CHF24.4bn at the end of last year, reflecting net gr
Partners Group, an alternative asset manager based in Zug, Switzerland, has reported that its estimated assets under management reached CHF24.4bn at the end of last year, reflecting net growth of CHF7.1bn during 2007 and representing its largest-ever annual increase in assets.
According to Partners Group, its assets consist of CHF16.7 in private equity, CHF2.4bn in private debt, CHF300m in private real estate, CHF1.4bn in listed alternative investments, CHF2.7bn in hedge funds and CHF900m in the firm’s wealth management practice. The net revenue margin of the new assets raised is expected to be in line with previous years.
Direct growth in assets under management during 2007, representing new assets raised and increases in existing investment programmes, amounted to CHF8.6bn, split equally between the first and second halves of the year. Redemptions for the year totalled CHF1.6bn, exclusively from the public alternative investment strategies business. Other factors, notably the impact of exchange rate fluctuations, contributed CHF100m to the firm’s asset growth.
Partners Group’s outlook for 2008 remains positive with a solid inflow of assets expected across many open products in its various business lines, and the firm is targeting growth in assets to CHF30bn by the end of the year.
The firm says it also enjoyed strong growth in terms of corporate development last year, ending 2007 with 273 employees. To strengthen its local presence in Asia, Partners Group plans to open new offices in Beijing and Sydney during the first half of this year, and to establish a Luxembourg office in the coming months to support the growth of fund products and to service clients in the financial centre better.
Partners Group, which manages a broad range of funds, structured products and customised portfolios for an international clientele of institutional investors, private banks and distribution partners, already has offices in London, Guernsey, New York, San Francisco, Singapore and Tokyo. The firm is listed on the SWX Swiss Exchange with a market capitalisation of around CHF4bn and is majority owned by its 38 partners and principals as well as employees.
