Price sensitive ("ad hoc") releases
Baar-Zug, Switzerland; 17 August 2021 | Ad hoc announcement pursuant to Art. 53 Listing Rules (LR)
- A favorable exit environment is expected to result in a significant increase in performance fees to CHF 360-445 million
- This increase, in combination with sustained management fee growth and other factors, is expected to lead to a profit range of CHF 585-645 million
- Full and final details on H1 financials will be provided in the firm's regular earnings announcement
Partners Group, a leading global private markets firm, today provides an indicative update on its expected H1 2021 profit for the six-month period ending on 30 June 2021.
The solid demand for quality assets in H1 2021 allowed Partners Group to divest a number of mature assets on behalf of its clients. Some of these exits were originally scheduled for 2020 but had been postponed due to the pandemic. This catch-up in exit activity translated into record distributions over the period. Examples of notable exits that closed in H1 were Cerba HealthCare, a leading European player in medical diagnosis, and the partial sale of International Schools Partnership, a leading international K-12 schools group providing English or bilingual education.
As a result of this very favorable environment for exits, Partners Group is expected to generate CHF 360-445 million in performance fees (H1 2020: CHF 56 million), representing 34-39% of revenues (H1 2020: 9%). These performance fees, in combination with sustained management fee growth and other factors, are expected to lead to a profit range of CHF 585-645 million (H1 2020: CHF 313 million), an increase of 87 to 106% year-on-year. Final numbers will be determined once the firm has completed its full closing procedures and reviews.
Conference call on 7 September 2021
Partners Group will provide a final and detailed update on its H1 2021 financials in its regular earnings announcement on 7 September 2021. A conference call with Partners Group's senior management is scheduled at 9:00 CEST on 7 September 2021.