Partners Group, a private equity firm, saw its shares soar on Tuesday following the release of its interim financial results. The company reported a strong 19% increase in revenue for the first half of the year, surpassing market expectations.
Impressive Revenue Growth
Partners Group’s revenue reached 1.05 billion Swiss francs ($1.1 billion) for the period, up from CHF 881 million in the same period last year. This remarkable growth was 13% higher than the Visible Alpha consensus. The firm’s performance fees accounted for 25% of the total revenue during this time.
Robust Profitability
The company’s net profit also showed substantial improvement, rising to CHF 551 million compared to CHF 464 million in the previous year. Additionally, earnings before interest and taxes (EBIT) increased by 13% to CHF 644 million.
Confident Full-Year Outlook
Partners Group remains confident in its outlook for the full year, expecting strong client demand with an estimated range of $17 billion to $22 billion. Moreover, the company foresees performance fees remaining within their mid- to long-term guidance of 20% to 30% of total revenue by 2023.
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