Zug-based Partners Group confirms its full-year targets, while the current market environment weighs on margins.
Partners Group increased its half-year profits by 19 percent to $551 million dollars, compared to the same period last year, it said in a statement Tuesday. The company's Ebit margin however, declined by 3.5 percentage points to 61.2 percent compared to the first half of 2022, due to lower management fees and currency effects.
Client assets increased slightly by 8 percent to $141.7 billion.
Workforce Boost
Partners Group saw its costs double after investing in technology and additional staff. Its workforce grew by 15 percent to 1,877 full-time positions.
The asset manager reaffirmed its targets for 2023, aiming to achieve capital commitments of $17 to $22 billion for its funds.
