Private-equity specialist Partners Group feels the effect of the corona-pandemic. The returns on its portfolios are suffering and fees will likely be affected as well.
Partners Group unexpectedly published some figures for the first four months of the year. It received new assets worth $7 billion, according to a statement released on Thursday.
Some returns on portfolio dropped by more than 10 percent and Partners Group therefore expects performance fees to contribute only 5 percent to total revenues in the first half, said the company. In the same period a year earlier, the contribution had been 19 percent. The company aims for a pretax margin of 60 percent, down slightly from the 63 percent a year ago.
Small Increase in AuM
Assets under management amounted to $94.6 billion at the end of April, slightly up from the end of 2019. The decline in valuations and capital outflows almost wiped out the new money pledged by investors.
Partners Group remains very optimistic about its ability to successfully master the corona-crisis.
