Partners Group Holding AG · SIX:PGHN
Partners — H1 2019 Earnings Presentation
21 slides from Partners's earnings presentation, Jul 16, 2019
Slide 1: H1 2019 AuM announcement
16 JULY 2019 H1 2019 AuM announcement David Layton, Co-CEO | Philip Sauer, Co-Head Group Finance & Corporate Development Confluent Health | Private Equity
Slide 2: Important note
H1 2019 AUM ANNOUNCEMENT 2 Important note The following are management’s estimates for the six month period ending on and as of 30 June 2019 and as such are subject to change. Figures provided have been rounded for presentation purposes and in certain instances rounding anomalies may arise.
Slide 3: Overview
H1 2019 AUM ANNOUNCEMENT 3 Overview Dedicated to private markets Leveraging strong resources • Our AuM stands at EUR 80 billion:1 EUR 40 billion in • We have over 1,300 employees worldwide2 across 20 corporate equity & EUR 40 billion in real assets / financing offices and over 600 private markets pr
Slide 4: Table of contents
H1 2019 AUM ANNOUNCEMENT 4 Table of contents 1 Investment overview H1 2019 2 AuM development H1 2019 3 AuM outlook 2019
Slide 5: Partners Group H1 2019 investment platform overview
INVESTMENT OVERVIEW H1 2019 5 Partners Group H1 2019 investment platform overview Investment platform update USD 7 billion invested across the globe1 Professionals North Asia-Pacific/ • >1,300 professionals across 20 offices globally Europe America Rest of World Investments1 13 direct 14 direct 2 di
Slide 6: Only the most attractive assets on a global basis are selected for investment
INVESTMENT OVERVIEW H1 2019 6 Only the most attractive assets on a global basis are selected for investment Deal flow H1 2019 Direct assets Portfolio assets ~300 private markets Private equity managers ~1,300 assets Private debt ~USD 85 billion Private real estate portfolios Private infrastructure 2
Slide 7: Private markets investment activities in H1 2019 across the globe and all asset classes
INVESTMENT OVERVIEW H1 2019 7 Private markets investment activities in H1 2019 across the globe and all asset classes Private markets investments during H1 20191 Europe Prim. Equity 30% Portfolio North USD assets USD America 7 billion 7 billion Direct 57% 40% assets Sec. 60% Debt Asia-Pacific/ Rest
Slide 8: Macro summary: we focus on value creation in a turbulent global market
INVESTMENT OVERVIEW H1 2019 8 Macro summary: we focus on value creation in a turbulent global market Global GDP growth Uncertainty around monetary policy Investment implications • Late stage expansion continues at • After US rate increases, the Fed • Rethink defensiveness by sourcing a modest pace h
Slide 9: Corporate assets: focusing on sub-sectors benefiting from transformative trends
INVESTMENT OVERVIEW H1 2019 9 Corporate assets: focusing on sub-sectors benefiting from transformative trends Defensive Defensive Assets Assets Growth Assets Healthcare Bus. & fin. services Industrials Consumer TMT Outsourcing Financial inclusion Automation Customization Enterprise software Non-cl
Slide 10: Corporate assets / private equity: building a market-leading physical therapy player
INVESTMENT OVERVIEW H1 2019 10 Corporate assets / private equity: building a market-leading physical therapy player Focus Physical therapy as a highly attractive sub-sector within the healthcare space A proactive sourcing approach is key in a competitive market Platform companies Industry: Healthcar
Slide 11: Real assets: infrastructure sub-sector matrix and investment focus themes
INVESTMENT OVERVIEW H1 2019 11 Real assets: infrastructure sub-sector matrix and investment focus themes Transport / Logistics Power Energy infrastructure Social infra / PPPs Communications Transport logistics Ancillary power Energy management Public services Specialty communication Services Integ
Slide 12: Real assets / private infrastructure: realize the platform expansion potential
INVESTMENT OVERVIEW H1 2019 12 Real assets / private infrastructure: realize the platform expansion potential Focus Cape Omega, a leading Norwegian midstream infrastructure company Focusing on the right trends Industry: Energy infrastructure Investment rationale Platform opportunities offer the oppo
Slide 13: Table of contents
H1 2019 AUM ANNOUNCEMENT 13 Table of contents 1 Investment overview H1 2019 2 AuM development H1 2019 3 AuM outlook 2019
Slide 14: Breakdown of assets raised and AuM
AUM DEVELOPMENT H1 2019 14 Breakdown of assets raised and AuM Breakdown of assets raised by asset class in H1 2019 Breakdown of AuM as of 30 June 2019 Private infrastructure Private infrastructure 9% 12% Private real estate Private real estate EUR Private equity EUR Private equity 11% 16% 7.4 billio
Slide 15: Client demand spread across all asset classes
AUM DEVELOPMENT H1 2019 15 Client demand spread across all asset classes Assets under management development H1 2019 (in EUR million) H1 2019 Net EUR AuM New money/ H1 2019 AuM growth 2018 commitments Other factors H1 2019 H1 2019 Private equity 35,972 4,003 -115 39,860 11% Private debt 15,361 1,973
Slide 16: Continued strong client demand in H1; tail-downs strongly skewed towards H2
AUM DEVELOPMENT H1 2019 16 Continued strong client demand in H1; tail-downs strongly skewed towards H2 Total assets under management development (in EUR billion) Strongly skewed to H2 2019; a number of larger closed- ended programs will reach the end of their lifetime +7.4 -1.7 +1.2 Tail-downs: -1.2
Slide 17: Sustained growth in AuM over the last decade
AUM DEVELOPMENT H1 2019 17 Sustained growth in AuM over the last decade Total assets under management1 (in EUR billion) Development since the end of 2010 79.8 AuM 72.8 • AuM: 17% p.a. # employees 61.9 1326 • # employees: 14% p.a. 1203 54.2 46.0 1036 930 37.6 31.6 840 27.8 746 24.1 20.7 701 15.5 16.6
Slide 18: Table of contents
H1 2019 AUM ANNOUNCEMENT 18 Table of contents 1 Investment overview H1 2019 2 AuM development H1 2019 3 AuM outlook 2019
Slide 19: Expected client demand in 2019: full-year guidance reconfirmed
AUM OUTLOOK 2019 19 Expected client demand in 2019: full-year guidance reconfirmed AuM, client demand and other effects (in EUR billion) Full-year 2019 expectations 13 - 16 Client demand 13.3 72.8 13.3 61.9 9.2 54.2 (-6.5 to -7.5) Tail-downs &1 (-2.4) redemptions 8.4 46.0 (-5.5) -4.8 +/- FX & others
Slide 20: Contacts
20 Contacts Investor relations contact: Zugerstrasse 57 Philip Sauer 6341 Baar-Zug T +41 41 784 66 60 Switzerland philip.sauer@partnersgroup.com T +41 41 784 60 00 partnersgroup@partnersgroup.com Media relations contact: Jenny Blinch www.partnersgroup.com T +44 207 575 25 71 jenny.blinch@partnersgro
Slide 21: Disclaimer
IMPORTANT NOTICE 21 Disclaimer NEITHER THE INFORMATION IN THIS DOCUMENT NOR ANY RELATED MATERIALS MAY BE TAKEN OR TRANSMITTED INTO THE UNITED STATES OR DISTRIBUTED OR REDISTRIBUTED, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN. This presentation is strictly confidential t
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