Switzerland-based asset manager Partners Group expects to profit richly in the first half from favourable market conditions and a catch-up in exit activity.
Asset manager Partners Group expects its first-half profit to be 585 million-645 million Swiss francs ($531 million-$706 million), around double the 313 million francs it posted a year earlier, the company said in a trading update Tuesday.
The company, which specializes in private markets, will publish its final and detailed first-half results on September 7.
Boosted by Pandemic-related Delays
Partners Group, which is based in the Central Swiss Canton of Zug, put the rise in profits down to higher management and performance fees.
Demand was solid and a number of more mature assets were sold on behalf of customers. Some of these sales were originally planned for 2020, but were postponed due to the pandemic.
The company added that this had contributed to record earnings in the first half of the year.
The statement said that due to the "very favorable market environment for divestments", Partners Group expected performance fees of 360 million-445 million francs in the first half compared with just 56 million a year earlier.
