Partners Group (SIX:PGHN) says it aims to raise $26–32B in 2026 despite FX headwinds, a tailing mature private-market book and expected slower net AuM growth, after H1 saw $16B new client demand, $9B deployed/realized and rapid royalties AUM expansion, though Jefferies warns evergreen demand may falter.
Previous Week Recap
- Fundraising Target For 2026: Partners Group (PGHN) confirms 2026 fundraising target USD 26–32B, cites tail-down in mature private-market programs, FX drag on AuM, and expects slower net AuM growth in H2 2026 and 2027
- Record H1 Demand, Shares Drop: Partners Group Holding AG reported $16bn new client demand in H1 2026, above $14.5bn estimates; this followed withdrawal caps on an open-ended fund and coincided with a post-announcement share drop.
- Evergreen Funds Demand Warned: Jefferies warns Partners Group Holding AG (PGHN) could face a sharp drop in demand for evergreen private-asset funds, potentially challenging the firm’s revenue and growth forecast assumptions.
- PGHN Deploys $9B, Infra Focus: Partners Group (PGHN) deployed $9B and realized $9B in the period. Most new investments went to infrastructure; remaining allocations to private equity, private credit, and real estate.
- Royalties AUM Up, 50 Deals: Partners Group (PGHN): Royalties Strategy AUM rose 50% to $1.5B in six months; eight deals closed YTD 2026; royalties portfolio now exceeds 50 investments.
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