Partners Group reshuffles top team

As part of the reorganisation, private equity co-head David Layton becomes head of private equity, while fellow co-head Stephan Schäli steps into the CIO role.

Partners Group, an asset manager with $57 billion in assets under management, has reshuffled its top team, according to a statement from the firm.

The changes to the firm’s organisational structure are intended to allow “a greater number of its senior partners to focus on their important investment- and client-related responsibilities, while ensuring continuity and stability in its core leadership team”.

The adjustments will be effective from 1 July 2017.

As part of the changes, co-head of private equity David Layton will become sole head of the division, with fellow co-head Stephan Schäli stepping into the role of chief investment officer. Schäli will remain on the firm’s global executive board, and hand over his seat in the executive committee to Layton.

Andreas Baumann, head of integrated investments, will take responsibility for Partners Group’s private equity secondaries and primary business, leaving the executive committee but remaining on the global executive board.

René Biner, currently co-head of investments, becomes chairman of the global investment committee, dedicating more time to the firm's global private markets investment activities. He also leaves the executive committee but remains on the global executive board.

In the statement, Steffen Meister, delegate of the board of directors, said the firm “continuously evaluate[s] the ideal leadership structure to support the firm’s evolving business and corporate needs”.

“Adjusting the composition of the executive committee and enabling several accomplished senior representatives to dedicate more time to key investment- and client-related matters positions us well for the future. We believe these changes are in the best interests of our clients and shareholders and will allow the firm to continue to grow in a sustainable manner.”

Among other changes: Partners Group’s co-head of private infrastructure Brandon Prater becomes chairman of the private infrastructure investment committee; Juri Jenkner, currently also infrastructure co-head, becomes head of private infrastructure; current head of private real estate Claude Angéloz becomes co-head of private real estate alongside Mike Bryant.

Partners Group is gearing up to close its flagship direct private equity fund this summer, as reported by Private Equity International. Partners Group Direct Investments 2016 has a target size of $2 billion, according to PEI data. The firm held a first close on the fund on $1.5 billion in February this year.

Among the limited partners which have already backed the fund is the A$12 billion ($9 billion; €8.2 billion) Australian superannuation fund CareSuper, which made a commitment of A$12.9 million.

Partners Group has already begun investing the fund. In April it agreed to acquire Key Retirement Group from UK mid-market private equity firm Phoenix Equity Partners in a deal valuing the business at £208 million ($263 million; €247 million), as reported by PEI. Partners Group will make the investment from several of its funds, including an allocation from Partners Group Direct Investments 2016.