Partners Group 2012 client demand of close to EUR 5 billion
Press release
Baar-Zug, 16 January 2013
Partners Group, the global private markets investment manager, has seen sustained client demand across its entire offering, resulting in 2012 asset inflows of EUR 4.9 billion at the upper end of the expected range (EUR 4-5 billion) and total assets under management (AuM) as of 31 December 2012 standing at EUR 28.6 billion. The firm further expects the global trend towards higher private markets allocations to continue and client demand to thus be sustained in the coming year. The firm confirms expected asset inflows of EUR 4-6 billion for 2013 as communicated in November 2012.
Net AuM growth was lowered by other factors totaling EUR 1.2 billion, comprising a variety of different effects. EUR 0.4 billion of this represents tail-down effects from older private markets programs, which are expected to increase in the years to come. A further EUR 0.3 billion was redeemed mainly from listed activities. EUR 0.4 billion of the remainder relates to a number of Partners Group's long-standing structured products being repositioned to increase their focus on direct investments, with a large part of the effects from this repositioning now absorbed.
The firm continues to identify attractive opportunities around the globe for the benefit of its clients and in 2012 completed a total of 32 direct investments across all sectors and geographies. Partners Group has further distributed proceeds from more than 20 exits of direct investments to its clients during the year.
Steffen Meister, Partner and Chief Executive Officer, comments "We look back on a very busy year in which we continued to broaden our product offering to capitalize on the investment opportunities arising out of the current market environment and further saw client activity pick up in all our teams. In a market characterized by interest rates near zero and negative real yields on the safest government bonds, investors will have to hunt for yield in other areas in order to meet their return targets while risk aversion remains high on average. We see this risk-averse flow of money leading to large valuation gaps and to what we call the 'great new value divide'. In this value divide, we see a sustained opportunity for specialized private markets investment managers to generate superior return potential for clients."
Alfred Gantner, Co-founder and Executive Chairman, adds "With the trend towards increased private markets allocations intact, clients continue to focus on track record, size, stability and client servicing capabilities in their choice of investment manager. There is an increasing inclination by pension plans to concentrate their private market investments through one globally leading manager who is able to deliver customized solutions for investment activities as well as additional value enhancing services such as portfolio planning, investment level steering and related treasury management. This is a service which we refer to as our prime private markets platform, an all-encompassing solution for our most sophisticated clients."
Partners Group's senior management will hold a conference call today at 9 am CET. Dial-in details can be obtained by using the contact details below. The annual results as of 31 December 2012 will be published on 19 March 2013.
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 28 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney. The firm employs over 600 people, is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of over CHF 5.5 billion and a major ownership by its partners and employees.
Investor relations contact
Philip Sauer
Phone: +41 41 784 66 60
E-mail: [email protected]
Media relations contact
Dr. Anna Hollmann
Phone: +41 41 784 63 72
E-mail: [email protected]
Press release
Baar-Zug, 16 January 2013
Partners Group, the global private markets investment manager, has seen sustained client demand across its entire offering, resulting in 2012 asset inflows of EUR 4.9 billion at the upper end of the expected range (EUR 4-5 billion) and total assets under management (AuM) as of 31 December 2012 standing at EUR 28.6 billion. The firm further expects the global trend towards higher private markets allocations to continue and client demand to thus be sustained in the coming year. The firm confirms expected asset inflows of EUR 4-6 billion for 2013 as communicated in November 2012.
Net AuM growth was lowered by other factors totaling EUR 1.2 billion, comprising a variety of different effects. EUR 0.4 billion of this represents tail-down effects from older private markets programs, which are expected to increase in the years to come. A further EUR 0.3 billion was redeemed mainly from listed activities. EUR 0.4 billion of the remainder relates to a number of Partners Group's long-standing structured products being repositioned to increase their focus on direct investments, with a large part of the effects from this repositioning now absorbed.
The firm continues to identify attractive opportunities around the globe for the benefit of its clients and in 2012 completed a total of 32 direct investments across all sectors and geographies. Partners Group has further distributed proceeds from more than 20 exits of direct investments to its clients during the year.
Steffen Meister, Partner and Chief Executive Officer, comments "We look back on a very busy year in which we continued to broaden our product offering to capitalize on the investment opportunities arising out of the current market environment and further saw client activity pick up in all our teams. In a market characterized by interest rates near zero and negative real yields on the safest government bonds, investors will have to hunt for yield in other areas in order to meet their return targets while risk aversion remains high on average. We see this risk-averse flow of money leading to large valuation gaps and to what we call the 'great new value divide'. In this value divide, we see a sustained opportunity for specialized private markets investment managers to generate superior return potential for clients."
Alfred Gantner, Co-founder and Executive Chairman, adds "With the trend towards increased private markets allocations intact, clients continue to focus on track record, size, stability and client servicing capabilities in their choice of investment manager. There is an increasing inclination by pension plans to concentrate their private market investments through one globally leading manager who is able to deliver customized solutions for investment activities as well as additional value enhancing services such as portfolio planning, investment level steering and related treasury management. This is a service which we refer to as our prime private markets platform, an all-encompassing solution for our most sophisticated clients."
Partners Group's senior management will hold a conference call today at 9 am CET. Dial-in details can be obtained by using the contact details below. The annual results as of 31 December 2012 will be published on 19 March 2013.
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 28 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney. The firm employs over 600 people, is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of over CHF 5.5 billion and a major ownership by its partners and employees.
Investor relations contact
Philip Sauer
Phone: +41 41 784 66 60
E-mail: [email protected]
Media relations contact
Dr. Anna Hollmann
Phone: +41 41 784 63 72
E-mail: [email protected]