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partners group offers cautious view on first half of the year. partners group attracted new client money last year in a difficult environment. the inflow was at the lower end of its projections. assets under management (aum) at zug-based partners group's assets rise 6.3 percent last year to $135.4 billion, up from 127.4 billion a year earlier, the company reported thursday evening. the growth of aum last year was about half of the compound annual growth rate for the past five years which was 13 percent, according to the firm. the wealth manager booked $22.3 billion in capital commitments from clients, compared with $25 billion in 2021, only reaching the lower end of its forecast range, which was as high as $26 billion. this also meant the second half of the year was weaker than the first half of 2022, which registered $13 billion in commitments. «2022 proved that clients continue to see value in our transformational investing strategy,» said david layton, partner, and ceo. he went on to say clients' decision-making processes to make final capital commitments have lengthened. this was mainly due to market uncertainty. private equity inflows. of the total new money, $13.2 billion was in private equity, with private debt drawing a further $4.5 billion of investment. private infrastructure and real estate attracted $3.5 and $1.0 billion, respectively. focus on the second half. the forecast for the coming year is based on the assumption the markets will stabilize and the length of the decision-making process for customers to make capital commitments will return to normal with the focus of customer demand expected to be in the second half of the year. for 2023 as a whole, partners group sees client demand in the range of $17 billion to $22 billion. «as we enter 2023, we expect higher inflation and interest rates to persist in what remains a demanding market environment – conditions that offer the potential for strong vintage years,» layton continued. market conditions would determine how the investment and divestiture pipeline develops. in the prior year, divestitures totaled $14.0 billion, down from $29.1 billion in 2021. information on profit has not yet been provided with the interim figures. at partners group, the share of performance-based income has a high impact on earnings. in the first half of last year, a lower valuation caused profits to collapse in the first half of 2022. full 2022 results will be presented on march 21.
Partners Group Offers Cautious View on First Half of the Year
Partners Group attracted new client money last year in a difficult environment. The inflow was at the lower end of its projections.
Assets under management (AuM) at Zug-based Partners Group's assets rise 6.3 percent last year to $135.4 billion, up from 127.4 billion a year earlier, the company reported Thursday evening.
The growth of AuM last year was about half of the compound annual growth rate for the past five years which was 13 percent, according to the firm.
The wealth manager booked $22.3 billion in capital commitments from clients, compared with $25 billion in 2021, only reaching the lower end of its forecast range, which was as high as $26 billion. This also meant the second half of the year was weaker than the first half of 2022, which registered $13 billion in commitments.
«2022 proved that clients continue to see value in our transformational investing strategy,» said David Layton, partner, and CEO. He went on to say clients' decision-making processes to make final capital commitments have lengthened. This was mainly due to market uncertainty.
Private Equity Inflows
Of the total new money, $13.2 billion was in private equity, with private debt drawing a further $4.5 billion of investment. Private infrastructure and real estate attracted $3.5 and $1.0 billion, respectively.
Focus on the Second Half
The forecast for the coming year is based on the assumption the markets will stabilize and the length of the decision-making process for customers to make capital commitments will return to normal with the focus of customer demand expected to be in the second half of the year. For 2023 as a whole, Partners Group sees client demand in the range of $17 billion to $22 billion.
«As we enter 2023, we expect higher inflation and interest rates to persist in what remains a demanding market environment – conditions that offer the potential for strong vintage years,» Layton continued.
Market conditions would determine how the investment and divestiture pipeline develops. In the prior year, divestitures totaled $14.0 billion, down from $29.1 billion in 2021.
Information on profit has not yet been provided with the interim figures. At Partners Group, the share of performance-based income has a high impact on earnings. In the first half of last year, a lower valuation caused profits to collapse in the first half of 2022. Full 2022 results will be presented on March 21.
