PG Global Mezzanine 2007 closes at EUR 447m significantly above its target of EUR 300m; net H1 asset growth moderated due to currency effects
Press release
Baar-Zug, 10 April 2008
Partners Group, the Switzerland based global alternative asset manager, announces the final close of Partners Group Global Mezzanine 2007 at EUR 447 million. The fund offers investors access to a broadly diversified portfolio of global mezzanine investments with an attractive return potential.
Since the credit crisis, the terms and conditions of mezzanine tranches have improved significantly. The increase in interest margins and the re-emergence of covenants in connection with a marked decrease in leverage result in a measurable reduction in transaction risk, thereby clearly improving the risk/return profile of mezzanine investments. Taking advantage of this current attractive environment for mezzanine financing, Partners Group Global Mezzanine 2007 has already committed over 50% of its capital, with eleven transactions alone since the beginning of the year.
In terms of Partners Group's overall assets under management (AuM) development for the year, demand for private market products is sustained and is well on track to reach the announced direct AuM growth target of CHF 5 - 6 billion for the full year 2008. Net asset growth is expected to be moderated by currency effects, particularly the strengthening of the CHF and the massive weakening of the USD, as well as by anticipated redemptions in Partners Group's public market business and is therefore expected to reach around CHF 3.5 – 4.5 billion for the full year 2008, resulting in total AuM in the range of CHF 28 - 29 billion.
About Partners Group
Partners Group is a global alternative asset management firm with over CHF 24 billion in investment programs under management in private equity, private debt, private real estate, listed alternative investments, hedge funds and alternative beta strategies. The firm manages a broad range of funds, structured products and customized portfolios for an international clientele of institutional investors, private banks and distribution partners. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, London, Guernsey, Singapore, Tokyo and Sydney. The firm employs over 270 people, is listed on the SWX Swiss Exchange (symbol: PGHN) with a market capitalization of around CHF 4 billion and majority owned by its 38 Partners & Principals and employees.
Investor relations contact:
Dr. Cyrill Wipfli, Principal
Business Strategy & Corporate Development
Phone: +41 41 768 85 71
E-mail: [email protected]
Media relations contact:
Tamara Krebs
Communications
Phone: +41 41 768 85 26
E-mail: [email protected]
Press release
Baar-Zug, 10 April 2008
Partners Group, the Switzerland based global alternative asset manager, announces the final close of Partners Group Global Mezzanine 2007 at EUR 447 million. The fund offers investors access to a broadly diversified portfolio of global mezzanine investments with an attractive return potential.
Since the credit crisis, the terms and conditions of mezzanine tranches have improved significantly. The increase in interest margins and the re-emergence of covenants in connection with a marked decrease in leverage result in a measurable reduction in transaction risk, thereby clearly improving the risk/return profile of mezzanine investments. Taking advantage of this current attractive environment for mezzanine financing, Partners Group Global Mezzanine 2007 has already committed over 50% of its capital, with eleven transactions alone since the beginning of the year.
In terms of Partners Group's overall assets under management (AuM) development for the year, demand for private market products is sustained and is well on track to reach the announced direct AuM growth target of CHF 5 - 6 billion for the full year 2008. Net asset growth is expected to be moderated by currency effects, particularly the strengthening of the CHF and the massive weakening of the USD, as well as by anticipated redemptions in Partners Group's public market business and is therefore expected to reach around CHF 3.5 – 4.5 billion for the full year 2008, resulting in total AuM in the range of CHF 28 - 29 billion.
About Partners Group
Partners Group is a global alternative asset management firm with over CHF 24 billion in investment programs under management in private equity, private debt, private real estate, listed alternative investments, hedge funds and alternative beta strategies. The firm manages a broad range of funds, structured products and customized portfolios for an international clientele of institutional investors, private banks and distribution partners. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, London, Guernsey, Singapore, Tokyo and Sydney. The firm employs over 270 people, is listed on the SWX Swiss Exchange (symbol: PGHN) with a market capitalization of around CHF 4 billion and majority owned by its 38 Partners & Principals and employees.
Investor relations contact:
Dr. Cyrill Wipfli, Principal
Business Strategy & Corporate Development
Phone: +41 41 768 85 71
E-mail: [email protected]
Media relations contact:
Tamara Krebs
Communications
Phone: +41 41 768 85 26
E-mail: [email protected]