Partners Group Holding AG (0QOQ) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

to our annual results presentation. I'm Dave, CEO of Partners Group. I'm joined on the call today by Joris, our CFO, and Philip, our head of corporate development, and Roberto, our head of portfolio solutions, will join us for the Q&A. On slide two, a few key data points from our annual results to kick things off. In 2024, we achieved 1.6 billion Swiss francs of management fees. Management fees grew in line with AUM with some FX considerations. Our management fees are sticky, they're recurring in nature, and they've demonstrated a lot of stability over time. Our management fee margin was 1.25%, which is in line with expectations. Performance fees ultimately came in at 24% of revenues for the year. Performance fees reached 511 million Swiss francs during the period. That's up 38% from the prior year, and we confirmed the prior guidance we provided regarding how these are expected to further increase in future years. We have a continued disciplined approach to cost management, and our EBITDA margin was stable with the prior few years at around 63%. Our profit came in at 1.1 billion Swiss francs of 12%, and we have proposed an increase of the dividend to 42 francs per share based on the firm's strong development and our confident growth outlook. Overall, quite solid operational and financial results for 2024. On slide three, the private market industry experienced mixed results in 2024. I would describe it as a gradually improving environment. Some spots of the industry contracted. But during this period, we were pleased to have been able to grow our investment activity by 66% from the prior year to $22 billion. We build our returns through hands-on active value creation. Realization activity was up 53% to $18 billion. And our fundraising was up 18% to $22 billion. Our ...