Partners Group Profit Increases 27% as Customers Add New Money
Partners Group Holding AG (PGHN), the Swiss money manager focused on private equity investments, said full-year profit climbed 27 percent after attracting more client assets.
Net income rose to 257 million Swiss francs ($271 million), from 202 million francs a year earlier, the Zug, Switzerland- based company said today in a statement.
“We are very pleased to be able to look back on a further successful year for our firm,” Steffen Meister, chief executive officer of Partners Group, said in the statement. “The ongoing search for superior global investment capacity will continue to drive the expansion of our investment platform.”
Partners Group, which has more than two-thirds of its investments in private equity and the rest in real estate, corporate debt and infrastructure, is targeting growth in the Americas to help reach a goal of 50 billion euros ($65 billion) in assets under management. Client assets climbed to 28.6 billion euros at the end of last year.
Partners Group has climbed 36 percent in the past 12 months, valuing the company at 6 billion francs. The Stoxx 600 Financial Services Index (SXFP) gained 16 percent over the same period.
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