Price sensitive ("ad hoc") releases
Baar-Zug, 13 January 2010
Partners Group, the Switzerland-based global private markets asset manager, raised CHF 3.6 billion for the full year 2009 and was thus in line with the CHF 3-4 billion communicated in March 2009. New money of CHF 2.2 billion was raised in the second half of 2009 compared to CHF 1.4 billion in the first half. The private markets business of the firm has thus seen inflows of 15% for 2009. In particular, the strong demand for private real estate products led to this business almost tripling in size during the course of the year.
Net assets under management (AuM) growth for the year was however impacted by negative market-related effects. These are made up of redemptions of CHF 0.8 billion including certain discontinued alternative investment activities and other factors of CHF 1.5 billion, including performance and foreign exchange effects. Total estimated AuM rose to CHF 25.7 billion as of 31 December 2009.
Dr. Marcel Erni, co-founder and Chief Investment Officer, comments, “We currently observe the private markets industry adjusting to the new investment environment and numerous attractive opportunities continuing to emerge from the dislocation. We consistently seek new areas in which to profitably deploy our clients' capital and expect many interesting opportunities to arise in capital solutions in the mid cap private equity sector as well as particularly in real estate secondary transactions. In terms of geographical differentiation, we continue to overweight Asia and emerging markets and believe investments with cyclical exposure in these regions constitute an attractive opportunity for participating in the growth we anticipate to see there."
Alfred Gantner, co-founder and Executive Chairman, adds, “We believe Partners Group will profit from the consolidation which is underway in the private markets universe and should gain market share. We currently see a shift in dynamics requiring many to rethink and readjust their core competence. These market shifts should bring forth a new league of globally integrated asset managers capable of deploying all instruments including directs, secondaries and primaries in all private markets segments for the benefit of their clients and we are determined that Partners Group will remain at the forefront of these developments."
The current breakdown of AuM is as follows: CHF 20.2 billion private equity, CHF 2.7 billion private debt, CHF 1.4 billion private real estate, CHF 0.4 billion private infrastructure and CHF 1.0 billion in affiliated companies, comprising CHF 0.7 billion in the independent private wealth management division and CHF 0.3 billion in alternative strategies.
Partners Group retains a positive outlook for 2010 based on the attractive investment environment and the sustained interest seen from clients throughout the prevailing challenging fundraising climate and expects to further profit from the structural shifts observed in the private markets industry. Partners Group expects client demand to result in inflows of CHF 4-5 billion for the full year 2010.
Partners Group's senior management will hold a conference call today at 9 am CET. Dial-in details can be obtained using the contact details below. The financial figures as of 31 December 2009 will be published on 15 March 2010.
Key dates H1 2010
15 March 2010
Annual results 2009
6 May 2010
Annual general meeting