Partners Group Replaces CEO Amid Performance Income Drop
Swiss private markets firm Partners Group has replaced its chief executive officer, David Layton, following a significant decline in performance income. The company reported a 39% drop due to several large exits accelerated during the second half of 2025 to capture market momentum. Roberto Cagnati and Juri Jenkner have been appointed as co-CEOs while Layton remains chief investment officer. Despite challenging macroeconomic conditions, Partners Group maintained disciplined capital deployment and strong fundraising performance in client acquisition. However, total revenues fell by 7% on a reported basis to CHF 1.12 billion for the first half of 2026 due to weaker performance-related income. The firm expects full-year new client assets between $26 billion and $32 billion but faces tail-down effects from older funds winding down. Partners Group also must address refinancing needs across three struggling portfolio companies—Emeria SASU, Ammega Group BV, and Breitling AG—with significant debt maturing in 2028. The firm manages around $185 billion in assets.
