Baar-Zug, 3 December 2015
Partners Group's three founding partners have entered into a five-year derivative transaction which supports further private markets investment alongside clients
Partners Group, the global private markets investment manager, announces today that its founding partners and largest shareholders, Dr. Marcel Erni, Alfred Gantner and Urs Wietlisbach, have entered into a derivative transaction concerning up to 4.1% each of Partners Group's total share capital over the next five years, supporting further investments alongside clients.
The transaction involves so-called collars that expire on 17 June 2021 and enable the three co-founders to continue to participate in certain upside of up to approx. CHF 855 per share, while being afforded certain downside protection at levels below approx. CHF 308 per share. This transaction does not foresee any change in the size of the three co-founders' stakes in the firm during the period until maturity, absent extraordinary events customary for such derivatives.
Alfred Gantner, Member of Partners Group's Board of Directors and Chairman of its Global Investment Committee, comments: "After the successful placement in 2012 at CHF 183 per share, we as founders have to-date in aggregate exceeded the investment amount which was earmarked from those proceeds for investments alongside our clients. This transaction will help us to balance our personal aggregated equity exposure, while maintaining our respective equity stakes in the firm and further increasing our investments into private equity alongside our clients. We believe it will enable us to best align interests between various stakeholders."
Dr. Marcel Erni, Member of Partners Group's Board of Directors and Chief Investment Officer, adds: "Partners Group's shares have been one of the best performing financial stocks worldwide since our IPO at CHF 63 per share in 2006, reflecting our successful development into one of the leading private markets investment managers globally. The excellent investment performance we have provided for our clients over the last two decades has been at the root of this success. Next to maintaining our substantial shareholding in Partners Group, we are committed to focusing on our investment management duties, which involve creating lasting value in our clients' portfolios and investing additional amounts alongside our clients."
Dr. Peter Wuffli, Chairman of the Board of Directors, concludes: "We welcome our founders' plans to increase their investment alongside colleagues and clients and value their continued engagement and commitment in their operating functions, as executive members of the Board, and as significant shareholders."