Partners Group Weighs Fresh Exits as UBS Cuts Its Valuation View
Published on 10/01/2026 at 22:37 | Editorial boerse-global.de
Partners Group is trying to keep capital moving even as the exit market stays sluggish. That tension was front and center on Monday, when UBS lowered its price target for the Swiss asset manager to CHF 670 from CHF 705, citing weaker return assumptions, higher foreign-exchange hedging costs and a noticeably slower pace of portfolio disposals.
The pressure is showing up not only in analyst models but also in how the company is structuring its own liquidity options. Bloomberg reported that Partners Group is considering a continuation vehicle worth about EUR 800 million for loans from five in-house credit funds. Investors in those funds would be able either to roll their positions into the new vehicle or opt for a payout.
At the same time, the firm is sounding out more traditional asset sales. One of the clearest examples is Parmaco, the Finnish modular builder that Partners Group is exploring selling with Bank of America advising on the process. A transaction value of around EUR 1.5 billion is being discussed. The review is still at an early stage, a deal could come in 2027, and the company could also decide to keep the asset.
Should investors sell immediately? Or is it worth buying Partners Group?
Partners Group’s portfolio reshaping is not limited to exit talks. On 2 September, the firm said its infrastructure secondaries strategy would take a stake of about 10 percent in data center operator atNorth. That came after Partners Group had sold atNorth to CPP Investments and Equinix. It has also provided MDT technologies with a EUR 300 million financing package and opened a new office in Stockholm to strengthen its Nordic footprint.
Investors have been marking down the shares as the wait for realizations drags on. The stock is down 40 percent since the start of the year and currently trades at EUR 635.80, just 2.1 percent above its 52-week low of EUR 623.00. A separate market snapshot put the shares at EUR 629.40, around 1.0 percent above that floor.
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