Partners Group profit jumps by 12pc
Partners Group has reported a 12 per cent increase in its profits, and a four per cent boost in assets under management (AUM) last year.
The Swiss private markets giant grew its profits to CHF1.13bn (£1bn), supported by stronger performance fees in the second half of the year.
Meanwhile, revenues increased by 10 per cent to CHF2.1m, while management fees amounted to CHF1.6m – a three per cent year-on-year increase.
Partners Group has reconfirmed guidance of expected total new client assets of $26bn (£20bn) to $31bn in 2025.
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The firm’s strong performance was driven by a series of significant exits, and the growth of its private wealth business in North America.
“We experienced significant progress in our exit pipeline in the second half of 2024, driven by the sale of direct assets,” said David Layton, partner and chief executive of Partners Group.
“This lifted full-year realisations by 53 per cent year-on-year to $18bn. We attribute this achievement to our transformational investing approach, which proved effective even in challenging market conditions.
“On the fundraising side, we have placed significant focus on growing our client base in North America and on the expansion of our private wealth business. North America contributed a record 33 per cent to fundraising in 2024, half of which was attributable to private wealth investors.
“It’s encouraging to see these strategic initiatives bearing fruit and contributing to our strong financial performance in 2024.”
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“As exit markets recovered in the second half of 2024, we signed several significant exits across our direct private equity and infrastructure portfolios, which drove a strong increase in performance fees,” added Joris Gröflin, partner and chief financial officer at Partners Group.
“As we look ahead, we have a $19bn pipeline of direct assets that are expected to be realized in the next two to three years. This gives us confidence in our ability to generate performance fees accounting for 25-40 per cent of revenues from 2026 onwards.”
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