Swiss private market specialist Partners Group increased its profit and assets under management in the first half of 2019. And analysts will still react with disappointment.
Partners Group has become a key provider of private market investments to institutional investors and with negative interest rates charged in Switzerland, the Zug-based company’s services are in even greater demand. Assets under management increased 7.4 billion euros ($8.2 billion) to just short of 80 billion euros by the end of the reporting period.
Partners Group generated management fees of 552 million euros and performance fees of 130 million euros. Profit was up 1 percent and reached 397 million Swiss francs ($400 million) in the first six months of the year. Higher personnel expenses and investments in growth were reasons provided for the marginal increase in profit.
Outlook Confirmed
The main reason why the headline profit figure was only marginally higher than a year ago was a drop in performance fees by a quarter.
Partners Group confirmed its projections for the full year.
