Partners Group AG (PGHN), one of Europe’s largest publicly traded alternative asset manager, is overhauling its teams responsible for buying stakes in leveraged buyout funds and fundraising.
Philipp Schnyder, a managing director and former co-head of the private-equity secondaries team, which specializes in buying stakes in leveraged buyout funds, is leaving after more than a decade, having joined in 2002, a spokeswoman said by e-mail today. Adam Howarth, co-head of private-equity secondaries, is relocating to the U.S. after building the firm’s Asian operations in Singapore for two years.
The changes come as the Zug, Switzerland-based company, reorganizes its business to be less dependent on the people who created the firm. Peter Wuffli, 56, former chief executive officer of UBS AG (UBSN), agreed to replace Alfred Gantner as chairman earlier this month, the first time the role has been held by a non-founder since the company started in 1996.
Guy Waller, a managing director and member of the U.K. investment solutions team, which handles investor relations and fundraising, is to leave the company, while Senior Vice President Stefan Lempen is relocating from Britain to Switzerland, the company said.
Partners Group, started by former Goldman Sachs Group Inc. (GS) employees Gantner, Marcel Erni and Urs Wietlisbach, sold its shares on the stock market in 2006 and managed 31.6 billion euros ($43 billion) of assets at the end of 2013, according to its annual report.