Press release

Baar-Zug, Switzerland, 11 April 2018

Partners Group, the global private markets investment manager, announces the successful listing of its portfolio company Aiyingshi ("the Company"), a leading retailer of maternity and baby products in China, on the Main Board of the Shanghai Stock Exchange. The Initial Public Offering ("IPO") took place on 30 March 2018 and valued the Company at a total market capitalization of RMB 2.0 billion. Aiyingshi's shares, which are trading under the ticker symbol "603214", had risen in value by 132% by close of trading on 10 April 2018. Following the listing, Partners Group continues to hold 19.2% of Aiyingshi's share capital on behalf of its clients.

Founded in 2005 and headquartered in Shanghai, Aiyingshi is one of China's leading chain retailers in the Maternity, Baby & Child (MBC) product sector. The Company targets the mid-to-high end MBC market and sells a wide range of products, including baby formula, diapers, toiletries, toys, strollers, and baby clothes, to meet the increasing demand for safe and high-quality MBC products in China.

Partners Group acquired a stake in Aiyingshi in November 2015 on behalf of its clients. Since then, the firm has worked alongside the Company's management team on value creation initiatives including store network expansion, store quality improvement, IT and logistics infrastructure upgrades and collaboration with international MBC product brands. Aiyingshi has delivered 14% revenue CAGR and 26% EBITDA CAGR since Partners Group's initial investment in 2015 and currently operates 190 stores (2015: 159) and an e-commerce platform. The Company serves 2.5 million member customers every year and had 2,449 employees as of December 2017.

Mr. Shi Qiong, Founder and CEO of Aiyingshi, comments: "The IPO marks a significant milestone in Aiyingshi's growth story. I am very proud to welcome our new shareholders and would like to thank the Partners Group team, whose strong commitment and hands-on approach to value creation have been instrumental in enabling us to become the company we are today. We look forward to further developing the Aiyingshi brand with the continued support of Partners Group and that of our new shareholder base."

Sheng Liu, Senior Vice President, Private Equity Asia, Partners Group, and a member of the Board of Directors of Aiyingshi, states: "Following the IPO, Partners Group remains committed to supporting the Company's long-term growth under the leadership of Mr. Shi and the rest of the management team. We will continue to leverage our global platform to further internationalize the Company's supply chain, in order to achieve its mission of bringing the best global maternity and baby products to Chinese consumers. We look forward to continuing to work together with Aiyingshi's management team to create value for all shareholders."

Cyrus Driver, Managing Director, Head Private Equity Asia, Partners Group, adds: "The strong stock market debut of Aiyingshi comes on the heels of our recent successful exit from Trimco, a Hong Kong-headquartered global provider of labels and brand identification solutions to the apparel sector. Simultaneous with delivering strong realizations from our existing Greater China portfolio, we are actively developing new investment opportunities to give our clients exposure to China's dynamic economy and to visionary CEOs like Mr. Shi."