Partners Group increases assets by nearly 60% in 2006

Partners Group, a Swiss alternative asset manager, has taken advantage of strong demand for private equity to boost assets by 59% in 2006.

Partners Group, which is listed in Switzerland, said in a pre-close trading update that its assets under management had increased to CHF 17.3 billion (€10.7 billion; $13.9 billion) in 2006, from CHF 10.9 billion last year. However, it expects growth to slow in 2007.

The firm said 73% of its assets were in private equity, with 16% in hedge funds, 6% in private debt and the rest in the group’s wealth management business.

The Swiss-based firm had a busy year in 2006. As well as its listing on the Swiss stock exchange in March, it also closed a $375 million Asian fund in May, a €282 million mezzanine fund in July, two European fund of buyout funds totalling €647 million in October, and a €1bn secondaries fund in the same month. The firm also found time to list a €400m listed fund on London’s Alternative Investment Market in September.

The firm’s share price at 13:30 GMT today stood at CHF 143.60, more than CHF 80 above its initial offer price of CHF 63.

Established in 1996, Partners Group is led by chief executive Steffen Meiser, and also has offices in London, New York, Guernsey and Singapore. It will publish its full results for 2006 in March.