Partners Group Holding AG (OTCPK:PGPHF) Q2 2025 Earnings Conference Call July 15, 2025 12:15 PM ET
Company Participants
David Michael Layton – Partner, CEO & Global Executive Board Member
Roberto Cagnati – Partner, Chief Risk Officer, Head of Portfolio Solutions & Global Executive Board Member
Conference Call Participants
Angeliki Bairaktari – JPMorgan Chase & Co, Research Division
Arnaud Maurice Andre Giblat – BNP Paribas Exane, Research Division
Charles John Douglas Bendit – Redburn (Europe) Limited, Research Division
Hubert Lam – BofA Securities, Research Division
Nicholas Herman – Citigroup Inc., Research Division
Oliver Carruthers – Goldman Sachs Group, Inc., Research Division
Operator
Good day, and thank you for standing by. Welcome to the Partners Group’s announcement of AuM as of the 30th of June 2025 Webcast and Conference Call. I would now like to hand the conference over to your first speaker today, Mr. David Layton. Please go ahead, sir.
David Michael Layton
Hello, everyone. Welcome to Partners Group’s H1 business update and outlook call. I’m Dave, CEO of Partners Group. And I’m joined today by Roberto, our Head of Portfolio Solutions and our Chief Risk Officer, Joris, our CFO, will join us for the Q&A.
Earlier this year, January, February, March, it felt like 2025 had the potential to be a big rebound year for the industry. However, the volatility stemming from tariffs in April stole some of that momentum and the environment during H1 turned out to be a bit more mixed. Global buyout volume is holding steady, maybe up a little from recent periods. IPO activity remains subdued, buyout exit volumes fell year-on-year and global buyout capital raised was down pretty meaningfully from the same period last year, a continuation of what we were experiencing in H2.
Distribution levels continue to have room for upside, which could help to