Partners Group, a Swiss-based alternative asset manager, will pay out a CHF 70 million (€43.3 million; $57.0 million) dividend to shareholders after seeing profits more than double in its first year as a public company.
Partners Group, which listed on the Swiss stock exchange last March, saw its total assets under management increase by about 60%, to CHF 17.3 billion. Much of this growth was in private equity assets, which increased in value by CHF 4.8 billion and now account for about three quarters of the total.
As a result, the group saw adjusted revenues for the year hit CHF 201 million, up 83 percent on 2005, while net profits more than doubled, from CHF 66 million to CHF 141 million. The company said this reflected “continued tight cost management and focus on efficiency”.
The Swiss-based group had a busy year in 2006. As well as its March stock exchange listing, 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. It also found time to list a €400m listed fund on London’s Alternative Investment Market in September.
Partners Group predicted more of the same in 2007, though it said that assets under management are unlikely to keep growing at the same rate.
Partners Group manages a range of funds and structured products across private equity, private debt, private real estate, infrastructure and hedge fund investments. Listed and headquartered in Switzerland, the company also has five other international offices and employs 200 people worldwide.
At 12:00 GMT today, shares in Partners Group were trading at CHF 136.50, giving the company a market capitalisation of CHF 3.64 billion.