Half Year 2025 Partners Group Holding AG Earnings Call Transcript
Key Points
- Partners Group Holding AG (PGPHF) reported a 17% year-over-year increase in earnings, reaching CHF733 million.
- The company achieved a 94% year-over-year growth in performance fees, contributing to 27% of total revenue.
- Partners Group Holding AG (PGPHF) raised $12 billion in new assets during the first half of 2025, marking a 10% growth compared to the previous year.
- The management fee margin remained stable at 1.23%, aligning with historical ranges.
- The company has a diversified client base and asset mix, with bespoke solutions making up 74% of H1 inflows.
- The management fee growth was negatively impacted by foreign exchange fluctuations and lower other revenues.
- The private equity segment faces a challenging fundraising environment, with increased competition and pressure on traditional funds.
- There was a 36% year-over-year decrease in other revenues and operating income, largely due to lower late management fees.
- The company's EBITDA margin was slightly affected by the acquisition of Empira, which operates at a lower margin.
- The Swiss franc's appreciation against the US dollar negatively impacted the EBITDA margin by approximately 0.4 percentage points.
Good day, and thank you for standing by. Welcome to the Partners Group interim financial results as of June 30, 2025, webcast and conference call.
I would now like to hand the conference over to your first speaker today, David Layton. Please go ahead, sir.
Thank you very much, and welcome to our H1 2025 results call. My name is Dave. I'm the CEO. I'm joined by Joris, our CFO, and Roberto, our Head of Portfolio Solutions. I also have a couple of other colleagues present for Q&A should that be necessary.
We're actually presenting today from our London office where we're joined by several members of the analyst community here based in London as well as a number of you on the phone. I'll start on page 2. Our platform delivered what we believe is solid results for the first half of this year from a fundraising perspective, $12 billion in new assets raised. It's about 10% growth year on year. We had steady client demand
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