Partners Group Holding AG · SIX:PGHN
Partners — Investor Presentation (January 2018)
22 slides from Partners's investor presentation, Jan 11, 2018
Slide 1: 2017 AuM announcement
11 JANUARY 2018 2017 AuM announcement André Frei, Co-CEO | Christoph Rubeli, Co-CEO | Philip Sauer, Co-Head Group Finance & Corporate Development Civica | Private Equity
Slide 2: Important note
AUM ANNOUNCEMENT 2 Important note The following are management’s estimates for the full year of 2017 as of 31 December 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: Table of contents
AUM ANNOUNCEMENT 3 Table of contents 1 AuM development 2 Platform overview 2017 3 Investment outlook 2018 4 AuM outlook 2018
Slide 4: Sustained growth in AuM over the last decade
AUM DEVELOPMENT 4 Sustained growth in AuM over the last decade Total assets under management (in EUR billion) 61.9 AuM 54.2 46.0 #1,037 #930 employees 37.6 #840 31.6 #746 27.8 24.1 #701 20.7 #625 15.5 16.6 #574 12.6 #361 #447 8.6 #334 5.5 #273 #175 #137 2005 2006 2007 2008 2009 2010 2011 2012 2013 2
Slide 5: 14% net AuM growth in 2017
AUM DEVELOPMENT 5 14% net AuM growth in 2017 Total assets under management development (in EUR billion) +13.3 -4.1 -1.5 Tail-downs: -3.2 Other +1.4 H2: 6.4 Redemptions: -0.9 EUR 61.9 = USD 74.4 = CHF 72.5 FX -2.9 H1: 6.9 EUR 54.2 Guidance Guidance No guidance provided: provided: provided +10 to +12
Slide 6: Client demand spread across all asset classes
AUM DEVELOPMENT 6 Client demand spread across all asset classes… Assets under management development 2017 (in EUR million) 2017 2017 EUR AuM New money/ Other AuM Net 2016 commitments factors** 2017 growth Private equity 29,992 4,811 -3,147 31,656 6% Private debt 8,633 3,501 -928 11,206 30% Private r
Slide 7: Driven by both program offerings and customized mandate solutions
AUM DEVELOPMENT 7 …driven by both program offerings and customized mandate solutions Breakdown of assets raised by asset class Assets raised by strategy Private • Global directs Private infrastructure equity • Global integrated Programs & customized mandates 16% (2016: 19%) Private • Global integrat
Slide 8: Table of contents
AUM ANNOUNCEMENT 8 Table of contents 1 AuM development 2 Platform overview 2017 3 Investment outlook 2018 4 AuM outlook 2018
Slide 9: Partners Group 2017 investment platform overview
PLATFORM OVERVIEW 2017 9 Partners Group 2017 investment platform overview Investment platform update 77 direct investments across the globe • Over 1,000 professionals North Asia-Pacific/ Europe America RoW • USD 13.3 billion invested in private markets opportunities on behalf of our clients 27 direc
Slide 10: Continued significant deal flow
PLATFORM OVERVIEW 2017 10 Continued significant deal flow First screenings in 2017 Directs Secondaries Primaries Private equity 1,482 USD 88 billion 193 Private debt 424 n/a n/a Private real estate 1,084 USD 39 billion 204 Private infrastructure 853 USD 10 billion 77 Total screened 3,843 USD 137 bil
Slide 11: Private markets investment activities in 2017 across the globe and all asset classes
PLATFORM OVERVIEW 2017 11 Private markets investment activities in 2017 across the globe and all asset classes Private markets investments during 2017 Primaries North America Europe 21% 36% 51% Equity USD USD Directs 13.3 billion 13.3 billion 62% Secondaries 17% Debt Asia-Pacific/ RoW 13% Note: prel
Slide 12: Table of contents
AUM ANNOUNCEMENT 12 Table of contents 1 AuM development 2 Platform overview 2017 3 Investment outlook 2018 4 AuM outlook 2018
Slide 13: Partners Group's current core macroeconomic views
INVESTMENT OUTLOOK 2018 13 Partners Group’s current core macroeconomic views Global GDP growth Diverging monetary policy Investment implications • US economy expanding at modest, yet • Fed tightening via rising rates – at a • GDP and earnings growth expectations steady pace; upside from tax reform.
Slide 14: Key investment strategies: private equity
INVESTMENT OUTLOOK 2018 14 Key investment strategies: private equity • Platform companies – acquire companies and lead add-on acquisition program for platform build-out Private equity • Category winners – companies that are leaders in their industry in terms of market share or growth • Defensive lea
Slide 15: Key investment strategies: private debt
INVESTMENT OUTLOOK 2018 15 Key investment strategies: private debt • Creative structures – offer flexible and tailor-made capital structures Private debt • Target attractive sub-sectors – where capital market lacks relevant depth of experience • Buy-and-build strategies – support successful manageme
Slide 16: Key investment strategies: private real estate
INVESTMENT OUTLOOK 2018 16 Key investment strategies: private real estate • Buy below replacement cost – reposition assets with low valuations in rebounding markets Private • Buy, fix and sell – target older assets in good locations in need of owner-oriented asset management real estate • Develop co
Slide 17: Key investment strategies: private infrastructure
INVESTMENT OUTLOOK 2018 17 Key investment strategies: private infrastructure • Market-leading platforms – build scale in fragmented markets with potential for consolidation Private • Build core – focus on specific types of infrastructure supported by strong long-term fundamentals infrastructure • Va
Slide 18: Table of contents
AUM ANNOUNCEMENT 18 Table of contents 1 AuM development 2 Platform overview 2017 3 Investment outlook 2018 4 AuM outlook 2018
Slide 19: Expected gross client demand in 2018
AUM OUTLOOK 2018 19 Expected gross client demand in 2018 AuM, client demand and other effects (in EUR billion) Full-year 2018 expectations 11 - 14 Client demand 13.3 61.9 9.2 54.2 Tail-downs & (-4.5 to -5.5) 8.4 46.0 redemptions* 6.1 (-5.5) 37.6 (-1.0) -4.1 +/- FX & others** 31.6 (0.0) -2.6 Tail-dow
Slide 20: Contacts
20 Contacts Investor relations contact: Zugerstrasse 57 Philip Sauer 6341 Baar-Zug Tel.: +41 41 784 66 60 Switzerland Email: philip.sauer@partnersgroup.com Tel.: +41 41 784 60 00 Fax: +41 41 784 60 01 Media relations contact: Jenny Blinch www.partnersgroup.com Tel.: +41 41 784 65 26 partnersgroup@pa
Slide 21: Disclaimer
IMPORTANT NOTICE 21 Disclaimer This material has been prepared solely for purposes of illustration and discussion. Under no circumstances should the information contained herein be used or considered as an offer to sell, or solicitation of an offer to buy any security. Any security offering is subje
Slide 22: Disclaimer
IMPORTANT NOTICE 22 Disclaimer Material notes to investors based in the Dubai International Financial Centre This material relates to a financial product which is not subject to any form of regulation or approval by the Dubai Financial Services Authority ("DFSA"). The DFSA has no responsibility for
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