Key Takeaways
- • Partners Group has cut or reassigned dozens of positions in its global private equity division, which employs more than 200 people and is led by Wolf-Henning Scheider, according to Bloomberg.
- • Some staff left the firm while others transferred to the infrastructure and royalties businesses following a performance review.
- • The restructuring follows pressure on returns from older private equity investments and elevated redemption requests in the firm's evergreen products, with the firm managing approximately $186bn in assets.
- • The firm has reportedly proposed splitting its €6.6bn Global Value SICAV evergreen fund into two portfolios to meet redemptions while keeping longer-term investors in newer assets.
- • Partners Group shares have fallen roughly 40% this year amid broader pressure on listed private markets managers.
Summary
Partners Group, the Swiss alternative asset manager, has cut or reassigned dozens of positions within its global private equity division as it seeks to improve performance amid investor scrutiny, according to a Bloomberg report. The division employs more than 200 people and is led by Wolf-Henning Scheider. Affected employees span multiple seniority levels. Some have left the firm, while others have moved to its infrastructure and royalties businesses following a performance review.
The changes come as the firm, which manages approximately $186bn in assets, faces pressure over returns from older private equity investments. Elevated redemption requests from investors in its evergreen products have added to the strain, alongside investor concerns over portfolio valuations and the pace of distributions. Partners Group shares have declined approximately 40% this year amid broader pressure on listed private markets managers.
Among portfolio challenges, Partners Group has written off its investment in pharmaceutical company Pharmathen and is discussing handing control of German toy manufacturer Schleich to creditors. The firm has also considered providing additional capital to French real estate services business Emeria.
In response to redemption requests, the firm has reportedly proposed restructuring its €6.6bn Global Value SICAV evergreen fund into two portfolios. The aim is to provide liquidity for investors seeking redemptions while allowing longer-term investors to retain exposure to newer assets.
Partners Group said its private equity headcount remained consistent with its long-term average and that it had strengthened senior operational capabilities over the past year.
The changes come as the firm, which manages approximately $186bn in assets, faces pressure over returns from older private equity investments. Elevated redemption requests from investors in its evergreen products have added to the strain, alongside investor concerns over portfolio valuations and the pace of distributions. Partners Group shares have declined approximately 40% this year amid broader pressure on listed private markets managers.
Among portfolio challenges, Partners Group has written off its investment in pharmaceutical company Pharmathen and is discussing handing control of German toy manufacturer Schleich to creditors. The firm has also considered providing additional capital to French real estate services business Emeria.
In response to redemption requests, the firm has reportedly proposed restructuring its €6.6bn Global Value SICAV evergreen fund into two portfolios. The aim is to provide liquidity for investors seeking redemptions while allowing longer-term investors to retain exposure to newer assets.
Partners Group said its private equity headcount remained consistent with its long-term average and that it had strengthened senior operational capabilities over the past year.
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