Partners Group shares dropped following a sharp fall in performance fees and a leadership change at the Swiss private-equity firm. The company reported a 39% decline in performance income to 216 million Swiss francs for the first half of the year, while management income grew to 905 million francs. Net profit fell 13% to 502.1 million francs.

Assets under management rose to $186.0 billion from $174.4 billion a year prior. The firm reaffirmed full-year expectations of $26 billion to $32 billion in new client assets. Roberto Cagnati and Juri Jenkner were named co-chief executives effective at the start of 2027, succeeding David Layton, who transitions to chief investment officer and chairman of the global investment committee.

Cagnati, a 20-year veteran, most recently served as head of portfolio solutions and chief risk officer. Jenkner, also a 20-year veteran, currently serves as president and head of business development. Partners Group noted that sizable exits in the second half of 2025 were sped up to benefit from market momentum, impacting current performance income trends.