Basically a private credit problem at the moment. It's just a question of how Partners Group will continue to deal with it. I saw the fall in the share price and was initially puzzled. Basically, I think $PGHN is one of the better/best asset managers. But news like this is of course absolutely fatal. I'll re-evaluate my position and the current CRV and see what conclusion I come to. You have them in your portfolio too, don't you?
•
33
•
@Get_Rich_or_Die_Tryin Yes, I have them in the depot, and I'll see what the reactions from the company are.
The fund investors were certainly aware of this, and I think Partners Group is absolutely legally protected here - the gating is there precisely for such situations, to prevent an emergency sale of company shares below value. The fact that this happens in extreme cases is certainly written in bold letters in the fund prospectus. But as long as the markets are rising, nobody reads it. Now that the risk is real, everyone is surprised.
The problem for us as Partners Group shareholders is not that the structure is failing, but that the image of the "convenient, liquid private equity investment for everyone" is cracking. And that could put a noticeable brake on future new business with private clients and thus reduce management fees. We may see this in September with the next figures. I remain relaxed ....
The fund investors were certainly aware of this, and I think Partners Group is absolutely legally protected here - the gating is there precisely for such situations, to prevent an emergency sale of company shares below value. The fact that this happens in extreme cases is certainly written in bold letters in the fund prospectus. But as long as the markets are rising, nobody reads it. Now that the risk is real, everyone is surprised.
The problem for us as Partners Group shareholders is not that the structure is failing, but that the image of the "convenient, liquid private equity investment for everyone" is cracking. And that could put a noticeable brake on future new business with private clients and thus reduce management fees. We may see this in September with the next figures. I remain relaxed ....
•
11
•@finanzperpetuum
I find the current discussion about liquidity, gating and the private client business particularly exciting because it shows how resilient the business model really is in difficult market phases.
Fundamentally, I still consider Partners Group to be a very high-quality company with a strong market position in the private equity sector. The question for me is not so much whether the current situation jeopardizes the structure, but rather what impact it could have on future growth and cash inflows.
As the share has recently come under considerable pressure, I am actually considering entering with an initial small tranche and gradually expanding the position in the event of further weakness. I'm still a 19 year old student and just starting to build up my portfolio, do you have any other tips and would it be feasible to enter the market now?
I find the current discussion about liquidity, gating and the private client business particularly exciting because it shows how resilient the business model really is in difficult market phases.
Fundamentally, I still consider Partners Group to be a very high-quality company with a strong market position in the private equity sector. The question for me is not so much whether the current situation jeopardizes the structure, but rather what impact it could have on future growth and cash inflows.
As the share has recently come under considerable pressure, I am actually considering entering with an initial small tranche and gradually expanding the position in the event of further weakness. I'm still a 19 year old student and just starting to build up my portfolio, do you have any other tips and would it be feasible to enter the market now?
•
22
•@fund_manager_2216 No tips or recommendations, we only share opinions here 🤓
I bought more this morning and it will certainly not be the last small investment in the company. If you look at the performance fees and target the lower end for 2026 as expected by PartnersGroup itself (25-40% of sales), I think you get a P/E ratio of around 15. With the new products announced (Total Return Strategy) and today's press release ... do the math 😎
I bought more this morning and it will certainly not be the last small investment in the company. If you look at the performance fees and target the lower end for 2026 as expected by PartnersGroup itself (25-40% of sales), I think you get a P/E ratio of around 15. With the new products announced (Total Return Strategy) and today's press release ... do the math 😎
•
11
•