PartnersGroup

Annual Report 2019

Key figures

1,464
professionals
20
offices around the world
USD
94
billion
assets under management
1.82
percent
revenue margin
chf
1,610
million
revenues
CHF
1,008
million
EBIT
CHF
900
million
profit
CHF
25.50
per share
proposed dividend
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
Co-CEOs
André Frei
Co-Chief Executive Officer
Steffen Meister
Executive Chairman
David Layton
Co-Chief Executive Officer

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.

Investments

Clients

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%.

Clients

Financials

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 Statements

Total assets under management

(in USD bn)
See breakdown

Total assets under management

Compensation 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
Grace del Rosario-Castaño > Chairwoman of the Nomination & Compensation Committee
Grace del Rosario-Castaño
Chairwoman of the Nomination & Compensation Committee

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 Governance Report
Partners Group Headquarters
Baar-Zug, Switzerland
PartnersGroup

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