Key figures
Message from the Chairman and the Co-CEOs
We are pleased to report a strong set of results across the board for the year 2019. Clients from all regions entrusted us with USD 16.5 billion in new commitments; at the same time, we were able to invest USD 14.8 billion on behalf of our clients in attractive businesses and assets across all private markets asset classes.
We would like to thank our clients, our business partners, fellow shareholders and our colleagues for their continued trust in Partners Group.
Message from the Chairman and the Co-CEOs
2019 at a glance
Investments
After a record investment year in 2018, we invested a total of USD 14.8 billion on behalf of our clients across all private markets asset classes in 2019 (2018: USD 19.3 billion), maintaining our highly disciplined and selective approach.
Out of the total amount invested in 2019, USD 10.1 billion was deployed in direct assets, of which USD 6.3 billion was invested as equity in individual businesses and infrastructure or real estate assets and USD 3.8 billion was invested in corporate debt.
InvestmentsClients
The global fundraising environment remained generally supportive and continued to attract a wide and growing range of investors who are looking for the higher returns that can be found in private markets.
In 2019, we received USD 16.5 billion in new commitments from our global client base across all private markets asset classes. This demand for programs and mandates brings total AuM to USD 94.1 billion as of 31 December 2019, representing a net growth of 13%.
ClientsFinancials
Performance fees increased from CHF 130 million in H1 2019 to CHF 343 million in H2 2019, bringing full-year performance fees to CHF 473 million. As a result, total revenues rose 21% to CHF 1'610 million during the period. Management fees increased by 14% in 2019, amounting to CHF 1'138 million, in line with average AuM growth of 14%.
We generated other management fee-related revenues of CHF 94 million, which included income earned for fundraising and investment services amounting to CHF 31 million, as well as other operating income earned for treasury management and short-term financing services amounting to CHF 63 million.
Financial Report Financial StatementsCompensation Report
In this report, the Nomination & Compensation Committee outlines the philosophy and principles behind our compensation structure and discloses the compensation paid to the members of the Executive Committee and the Board for the fiscal year 2019.
Although the general philosophy behind our compensation policy has remained unchanged since inception, we undertake periodic reviews of our compensation structure and adjust as necessary to ensure that the interests of clients, shareholders, employees and other stakeholders remain well aligned.
Compensation Report
Corporate Governance Report
Partners Group is committed to meeting high standards of corporate governance, with the aim of guiding the firm to further success. As a company with its shares listed on the SIX Swiss Exchange AG, Partners Group is committed to pursuing an open, transparent and consistent communication strategy vis-à-vis its shareholders as well as the financial community.
It therefore prepares its Corporate Governance Report according to the “Directive on Information relating to Corporate Governance” issued by the SIX Exchange Regulation and also takes into account the “Swiss Code of Best Practice for Corporate Governance” issued by economiesuisse.
Corporate Governance Report
Corporate Sustainability Report 2019
Portfolio-wide ESG impacts
Impact achieved
Equivalent to
Impact achieved
20.9
million kWh
energy consumption
REDUCED
Average yearly consumption for
6,282,156
liters of gasoline being consumed
Impact achieved
869.7
thousand m3
water consumption
SAVED
Equivalent to
Average yearly consumption for
2,098.2
US households
Impact achieved
335.5
thousand tons
waste
DIVERTED
Equivalent to
1.5
years of waste generated by the city of Denver
Impact achieved
1.2
million metric tons
CO2e emissions
AVOIDED
Equivalent to
256,587
passenger vehicles driven for one year
Impact achieved
28,637
new jobs
CREATED
Equivalent to
9.2
job growth rate between 2009-2018
Corporate Sustainability Report
2019 was a pivotal year for Partners Group. It started with a moment of introspection and reflection as we took stock of what has made us successful following years of strong growth, what may be slowing us down, and what we need to build up as we continue to grow. It ended with the definition of a clear roadmap for the next phase of our firm's sustainable development and several associated action items that we believe will enable us to achieve true impact for our stakeholders now and in the future.
The roadmap we have defined follows two key themes: "own the business" and "care for people." Both themes refer to our own operations as well as to our global portfolio of businesses and assets spanning multiple industries.
"We have defined a clear roadmap for the next phase of our firm's sustainable development; 'own the business' and 'care for people'."
Steffen MeisterExecutive Chairman