Swiss private equity firm Partners Group reported a net half-year profit of 502 million Swiss francs ($620 million), marking a 13% decrease year-on-year. This decline was attributed to instability surrounding its open-ended funds, which has put pressure on its shares.
In conjunction with the financial results, the company announced a leadership change. CEO David Layton is set to step down from the executive team on January 1, 2027. He will be succeeded by Roberto Cagnati and Juri Jenkner, who will serve as co-CEOs. Both Cagnati and Jenkner have been with Partners Group since 2004, with Chairman Steffen Meister expressing confidence in their ability to lead the firm into its next phase of transformation.
Despite the profit dip, Partners Group had previously exceeded expectations for new client demand in the first half of the year. However, it also cautioned that withdrawals from some of its mature evergreen funds are likely to persist, following the capping of redemptions in June. The company confirmed its full-year expectation for total new client assets to be between $26 billion and $32 billion.
Looking ahead, Partners Group anticipates its performance income in 2026 to be around 20-25%. This forecast is below its long-term guidance of 25-40%, with outgoing CEO David Layton noting that some exit processes from their robust pipeline might shift into 2027.
