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Investors tepid on Partners Group management reshuffle

Swiss investment house Partners Group has reshuffled its top management after a slump in first-half earnings and warned of a weaker outlook for performance fees. The Swiss private markets firm named veterans Roberto Cagnati and Juri Jenkner as co-chief executive officers, replacing David Layton, who will become chief investment officer. The shares slumped as much as 8.6%, bringing declines this year to almost 32%. Partners Group, one of Europe’s largest alternative asset managers, has been struggling to emerge from a troubled period marked by a sustained share price decline, investor withdrawals and doubt over its valuation methods. Yet the firm reiterated its guidance for fundraising for this year on the back of record new assets in the first half. Earlier this year, a wave of redemption requests hit Partners’ “evergreen” funds, which offer access to private markets with periodic withdrawals. The firm has been affected to a degree by the global decline in confidence over private ... Full story here Are you the author?
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