Partners Group To Sell Hedge Fund Unit

Sep 11 2013 | 12:26pm ET

Swiss private-equity firm Partners Group plans to exit the hedge-fund and wealth-management businesses after posting weak first-half numbers.

The Zug-based firm said yesterday that it would sell its remaining interests in Asset Management Partners and an undisclosed hedge fund business to the firms' management. The moves will cut about €800 million from Partners' €30 billion in assets under management.

The sales are expected to be completed in the second half. Terms were not disclosed.

AMP, which Partners established in 1996 and spun off in 2002, has between 10 and 15 employees, and the hedge fund between five and 10, investor relations chief Philip Sauer told Financial News.

Partners said that its performance fees fell 35% in the first half, cutting its margin on revenue by 10 basis points to 127 basis points. But its net income, assets under management and management-fee income all rose.

"Global pension markets, our dominant sector, continue to grow," co-CEO Andre Frei said.


In Depth

Q&A: Old Hill's Stone On Private Debt, P2P And Credit Bubbles

Jun 6 2017 | 7:52pm ET

While institutional capital continues to flow into the broader private debt sector...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of