Key Takeaways
- • Partners Group has cut or reassigned dozens of positions within its global private equity division, according to Bloomberg, as the Swiss alternative asset manager seeks to improve performance amid investor scrutiny.
- • The division employs more than 200 people and is led by Wolf-Henning Scheider; some staff departed while others moved to the firm's infrastructure and royalties businesses following a performance review.
- • The firm manages approximately $186bn in assets and faces pressure over returns from older private equity investments and elevated redemption requests in its evergreen products.
- • Partners Group has proposed restructuring its €6.6bn Global Value SICAV evergreen fund into two portfolios to provide redemption liquidity while letting longer-term investors keep exposure to newer assets.
- • Partners Group shares have fallen roughly 40% this year amid broader pressure on listed private markets managers.
Summary
Partners Group has cut or reassigned dozens of positions within its global private equity division, according to a Bloomberg report. The Swiss alternative asset manager is seeking to improve performance amid investor scrutiny. The restructuring affects employees across multiple seniority levels in a division that employs more than 200 people and is led by Wolf-Henning Scheider. Some employees have left the firm, while others have transferred to its infrastructure and royalties businesses following a performance review.
The changes come as the firm, which manages approximately $186bn in assets, faces pressure over returns from older private equity investments and elevated redemption requests from investors in its evergreen products. Investors have also raised concerns over portfolio valuations and the pace of distributions. Partners Group shares have declined approximately 40% this year amid broader pressure on listed private markets managers.
Portfolio challenges include the write-off of its investment in pharmaceutical company Pharmathen, discussions about handing control of German toy manufacturer Schleich to creditors, and consideration of additional capital for French real estate services business Emeria.
In response to redemption requests, the firm has reportedly proposed restructuring its €6.6bn Global Value SICAV evergreen fund into two portfolios. The aim is to provide liquidity for investors seeking redemptions while allowing longer-term investors to retain exposure to newer assets. Partners Group said its private equity headcount remained consistent with its long-term average and that it had strengthened senior operational capabilities over the past year.
The changes come as the firm, which manages approximately $186bn in assets, faces pressure over returns from older private equity investments and elevated redemption requests from investors in its evergreen products. Investors have also raised concerns over portfolio valuations and the pace of distributions. Partners Group shares have declined approximately 40% this year amid broader pressure on listed private markets managers.
Portfolio challenges include the write-off of its investment in pharmaceutical company Pharmathen, discussions about handing control of German toy manufacturer Schleich to creditors, and consideration of additional capital for French real estate services business Emeria.
In response to redemption requests, the firm has reportedly proposed restructuring its €6.6bn Global Value SICAV evergreen fund into two portfolios. The aim is to provide liquidity for investors seeking redemptions while allowing longer-term investors to retain exposure to newer assets. Partners Group said its private equity headcount remained consistent with its long-term average and that it had strengthened senior operational capabilities over the past year.
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