Partners Group has confirmed the divestment of its remaining interest in Asset Management Partners, an affiliated company with a focus on traditional asset management, to its management team as pre-announced in September 2013. The transaction remains subject to customary closing conditions and is consistent with the firm’s strategy to focus on private markets investment activities.
Partners Group, the global private markets manager, is pleased to confirm the divestment of its remaining interest in Asset Management Partners, an affiliated company with a focus on traditional asset management, to its management team as pre-announced in September 2013. The transaction remains subject to customary closing conditions and is consistent with the firm’s strategy to focus on private markets investment activities.
As of 30 June 2013, Asset Management Partners managed assets of approximately EUR 0.75 billion, representing about 2% of Partners Group’s total assets under management. Due to significantly differing margins and economics of this previously affiliated company, however, as mentioned in a statement by Partners Group in September 2013, the sale and according extraordinary reduction of AuM of approximately EUR 0.75 billion is not expected to have any meaningful impact on the firm’s net profit. Also, the firm continues to confirm the communicated expected range of EUR 4-6 billion in new client commitments for the full year 2013. The above one-time reduction of AuM will come in addition to the previously announced anticipated ordinary negative effects of EUR -1.0 to -1.5 billion in 2013.
André Frei, Partner and Co-Chief Executive officer, comments: “We are pleased to be taking this step in further focusing our business on private markets assets and firmly believe that this clear strategic emphasis positions us advantageously for future growth.”
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 30 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney. The firm employs over 650 people, is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of CHF 6 billion and a major ownership by its partners and employees.
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