Partners Group doubles profit to CHF 629 million

The asset management company Partners Group used the first half of 2021 for several sales, and these divestments filled the coffers: the operating result increased by 80% and the profit was doubled.

Some of these sales were originally planned for last year, and were postponed due to the pandemic, according to a statement on Tuesday. The divestments have now led to an increase in Performance Fees to CHF 442 million. Their share of total revenues corresponded to 39% in the first half of the current year. It was 9% in the same period of the previous year.

In the meantime, the operating profit (EBIT level) of Partners Group in Baar (ZG) rose by 80% to CHF 702 million, with the EBIT margin remaining stable at 62%. Profit increased by 101%, to CHF 629 million. The increase was also reflected in the amount that Partners Group had to spend on taxes: this was CHF 123 million in the first half of the year, compared to only CHF 53 million in the same period in 2020.

Seized the opportunity: Partners Group in Baar (ZG) made several sales in the first half of 2021.

For the year as a whole, Partners Group expects client demand of US$ 19 billion to US$ 22 billion. The share of performance fees in total revenues is estimated at 40-45% for 2021. Next year, the share will settle at 20-30 %, according to the announcement.

Resignation from the Board of Directors
In the crisis year 2020, operating profit at EBIT level had slumped by 10% in the first half of the year, to CHF 390 million francs. At that time, cash inflows of US$ 8.2 billion were recorded. As of June 30, 2020, Partners Group managed US$ 96.3 billion.

There is a change in the Board of Directors: as was also announced on Tuesday, Lisa A. Hook has resigned for "personal reasons". She will, however, remain with the company as a Senior Advisor. Her previous functions will be taken over on an interim basis by Joseph P. Landy, a former member of the Board of Directors.