As Partners Group Shares Hit a Five-Year Low, Insiders Bet $5.29 Million on a Turnaround
22.06.2026 - 07:13:28 | boerse-global.de
The stock has shed a third of its value this year, but six members of the management team — including co-founder Fredy Gantner — have spent over 5.29 million Swiss francs buying shares in a single week. Gantner called the market’s reaction “exaggerated,” pointing to a record year just delivered, while conceding the firm must “definitely communicate better and more proactively” going forward.
The buying spree comes as the Swiss private markets giant wrestles with a twin shock. In late April, US short-seller Grizzly Research published a 37-page report claiming up to 40% of the assets in Partners Group’s evergreen funds could be materially mispriced. The company dismissed the allegations as “frivolous, defamatory and misleading” and filed a lawsuit. Then, in early June, the firm capped redemptions from its flagship Global Value SICAV — valued at $8.6 billion — at 5% of net asset value after applications hit an estimated 9.8%. Three other evergreen vehicles, totalling roughly $9.7 billion, are expected to face redemption requests of between 3.5% and 5% in the second quarter.
Management has moved quickly to contain the damage. On May 21 it unveiled a “Total Return Strategy” that reduces leverage, extends holding periods to as long as twelve years and targets regular distributions. The board also proposed splitting the stock into two classes: a participation share and a realisation share, the latter capped at around 250 million francs. Shareholders must approve the plan at an extraordinary general meeting; if greenlit, the new structure would take effect in the fourth quarter of 2026. The company insists a fund freeze is not on the table, noting that the affected vehicles have returned five times their initial investment since inception and delivered realisations of about 15% in 2025, with similar expectations for 2026.
Should investors sell immediately? Or is it worth buying Partners Group?
The flip side of the share price collapse is a dividend yield that has never been higher. FactSet estimates point to a forward yield of roughly 6.56% for 2026 — the richest in the Swiss Large & Mid Cap Index. Partners Group has paid a dividend for 20 consecutive years and raised it in 17 of those. The 2025 payout was 46.00 francs per share.
Still, revenue pressure is building. The company now warns that the evergreen drag will shave one to two percentage points off net AuM growth in the second half of 2026, with similar headwinds extending into 2027. Performance fees are expected to come in at the low end of the 25% to 40% range of revenue. Analysts have responded by slashing 2026 and 2027 earnings-per-share estimates by 10% to 22%, depending on the house.
The stock closed last week at 735.00 euros, just above its five-year low of 731.40 euros and roughly 33% lower year to date. The relative strength index sits at 26.4 — deep in technically oversold territory — but few expect a quick rebound based on that alone. Analysts remain split: nine rate the shares a buy, seven a hold, and one a sell. Oddo BHF downgraded from Buy to Hold; target prices range from 760 to 1,400 francs, with the average at 957 francs.
The first concrete test comes on July 15, when Partners Group releases assets under management as of June 30. That update will reveal how deeply the redemption wave has already eroded the fee base — and whether the second-half fund-raising outlook still holds.
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Partners Group Stock: New Analysis - 22 June
Fresh Partners Group information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
