Partners Group Holding AG (PGPHF) Q4 2025 Earnings Call March 10, 2026 4:30 AM EDT
Company Participants
David Layton – Chief Executive Officer & Global Executive Board Member
Joris Groflin Liebherr – Partner, CFO, Head of Finance, Treasury & Member of the Executive Team and Global Exec. Board
Conference Call Participants
Mate Nemes – UBS Investment Bank, Research Division
Oliver Carruthers – Goldman Sachs Group, Inc., Research Division
Arnaud Giblat – BNP Paribas, Research Division
Hubert Lam – BofA Securities, Research Division
Nicholas Herman – Citigroup Inc., Research Division
Daniel Regli – Zürcher Kantonalbank, Research Division
Presentation
David Layton
Chief Executive Officer & Global Executive Board Member
[Audio Gap]
Transformation taking place within those platforms from the time that we invested in them. I think really are case studies of Partners Group’s value creation efforts at work. Here’s a snapshot of the performance fees that we’ve been able to generate CHF 819 million in performance fees. Most of that came from our private equity business, where you saw most of the most significant exits that take place, but also infrastructure came in for 27% of the mix. Private credit accounted for 13% of our performance fees generated. You also had good diversification across evergreen programs and mandates and traditional programs. So 75% of the performance fees that were generated were generated by our mandates and our traditional programs.
One of the things that’s notable is that we have one of the most diversified investment programs that’s out there, about 350 live investment vehicles running right now. And we had 80 different products that contributed to our performance fee generation in 2025. I think that level of diversification is one of the things that allows us to, I think, navigate the current environment and to continue to generate consistent performance fees is the fact that we don’t have all of our
