Key figures 2021
Message from the Chairman and the CEO
2021 was an exceptional year for Partners Group, which showed the true potential of the platform we have been building for over two decades. As confidence returned, investment activity in private markets has picked up. Our thematic investing approach and entrepreneurial governance model enabled us to successfully navigate a very competitive market and we invested a record USD 32 billion into companies and assets that we believe are well-positioned for future growth.
Additionally, we took advantage of the strong market appetite for quality assets to realize the transformational business-building we have engaged in over the last few years through a series of exits. This resulted in USD 29 billion of realizations – another record – leading to excellent returns for our clients, stakeholders, and beneficiaries, while confirming the high quality value creation we have engaged in.
Today, we look ahead with confidence in our business. While there are clearly clouds on the horizon – a potentially prolonged period of market volatility and geopolitical instability, inflation, and supply chain disruptions – our unique approach to transformational investing remains the best defense against economic instability.Message from the Chairman and the CEO
2021 at a glance
2021 was a record year for the private markets industry and was a particularly successful year across all metrics for Partners Group. We experienced strong underlying portfolio performance and took advantage of the robust market momentum to transact on our thematic pipeline. This allowed us to invest a record USD 32 billion into companies and assets that we believe are well-positioned for future growth, while exercising high selectivity and discipline on pricing.Investments
We expect the secular growth trajectory of the private markets industry in general, and for Partners Group in particular, to continue and fundraising to remain diversified across regions, asset classes as well as product and client types. In 2021, Partners Group experienced a solid year of fundraising based on sustained client demand, receiving USD 25 billion in new commitments. The demand for programs and mandates brought our total AuM to USD 127 billion, an increase of 17%.Clients
In 2021, management fees increased by 25%, supported by sustained client demand for private markets solutions. Record portfolio realizations amounting to USD 29 billion translated into exceptionally high performance fee growth. Over the period, performance fees represented 46% of total revenues, slightly above our 2021 guidance of 40-45%.
The substantial increase in performance fees was also driven in part by a "catch-up" in exit activities that had been postponed from 2020 following the outbreak of the COVID-19 pandemic, and select realizations originally planned for 2022 that were brought forward because the firm had already met its value creation targets.
As a result of a strong year, total revenues rose 86%. Total costs grew in line with revenues and EBIT increased by 89%. The EBIT margin remained stable at 62.8%. Profit increased in line with EBIT by 82% year-on-year.Financial Report Financial Statements
Total assets under management(in USD bn) See breakdown
In this report, the Nomination & Compensation Committee (NCC) 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 2021.
The NCC strives to continuously improve the transparency and clarity of the firm’s approach to compensation and, in 2021, reached out again to key shareholders and proxy advisors to reflect on industry trends and gather outside perspectives. These periodic reviews of compensation structure allow the NCC to continuously enhance the firm’s approach to compensation and further align the interests of clients, shareholders, employees and other stakeholders.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 2021
Portfolio-wide ESG impacts
liters of gasoline being consumed
million metric tons
passenger vehicles driven for one year
hours of work
peak jobs during asset construction
hours of work
Corporate Sustainability Report
2021 was a very active year in Partners Group’s sustainability journey. After many years of leading manifold sustainability initiatives at both the corporate and portfolio level, it was the year we consolidated our efforts into one overarching Sustainability Strategy.
Published in parallel with our Corporate Sustainability Report, the strategy combines our existing frameworks around ESG and sustainability with a clear roadmap for the next phase of our firm’s sustainable development. With this strategy, we are confident we are in an even better place to achieve our aim of creating lasting positive impact and be recognized as a sustainability leader within our industry.
"Covering both our firm and our portfolio of controlled assets, our Sustainability Strategy articulates our vision of building better and more sustainable assets and companies, while also creating positive and lasting impact for all our stakeholders."André FreiChairman of Sustainability