Partners Group cuts and reassigns dozens of private equity roles amid performance pressures

Partners Group has cut or reassigned dozens of positions within its global private equity division as the Swiss alternative asset manager seeks to improve performance amid investor scrutiny, according to a report by Bloomberg.

The restructuring has affected employees across multiple seniority levels within the division, which employs more than 200 people and is led by Wolf-Henning Scheider.

Some employees have left the firm, while others have transferred to its infrastructure and royalties businesses following a performance review.

The changes come as Partners Group faces pressure over returns from older private equity investments, alongside elevated redemption requests from investors in its evergreen products.

The firm, which manages approximately $186bn in assets, has also reportedlt faced investor concerns over portfolio valuations and the pace of distributions.

Among its portfolio challenges, Partners Group has written off its investment in pharmaceutical company Pharmathen and is discussing handing control of German toy manufacturer Schleich to creditors. It has also considered providing additional capital to French real estate services business Emeria.

Partners Group shares have declined approximately 40% this year amid broader pressure on listed private markets managers.

In response to redemption requests, the firm has reportedly proposed restructuring its €6.6bn Global Value SICAV evergreen fund into two portfolios.

The restructuring is intended to provide liquidity for investors seeking redemptions while allowing longer-term investors to retain exposure to the newer assets.

Partners Group said its private equity headcount remained consistent with its long-term average and that it had strengthened senior operational capabilities over the past year.