Partners Group, a Zug-based asset manager, recorded an increase of funds under management of more than a fifth in 2015 and hired almost 100 new employees to cope with its expansion.
Partners Group at the end of 2015 had total assets under management of 46 billion euros, 22 percent up from the 37.6 billion a year earlier, the company said in a statement today.
In addition to the new money received from clients, Partners Group also had a positive currency effect of 1.8 billion euros thanks to the appreciation of the U.S. dollar versus the euro.
The asset manager, which has 18 offices across the globe, increased its workforce to 840 from 746 a year earlier as it aims to expand the business further.
Asset Growth to Continue
Partners Group expects demand from clients to continue rising this year, with a forecast of new funds of 7 to 9 billion euros.
«In an environment of increased market volatility and without significant growth, our investment strategy is focused on the search for transformative market trends,» Christoph Rubeli, partner and co-CEO said. «We have globally invested in assets that are either active in growth markets or that provide solutions to a fundamental demand-led market trend in a specific sub-sector.»
«Elevated Valuations»
Examples for such trends are the demand for both renewable and conventional energy infrastructure in the U.S., the need for mixed-use residential and retail real estate assets in European urban centers, and the rise of consumption-led sectors in private equity in Asia and South America.
Nevertheless, the company also cautioned that the market environment was characterized by «elevated valuations».
Partners Group was founded in 1996, has its headquarters in Zug and floated its shares on the SIX Swiss Exchange in an initial public offering in 2006.
