Zug, Switzerland-based private equity investor Partners Group has named Peter Wuffli as chairman. The firm’s co-founder Alfred Gantner will remain board member and will chair the global investment committee.
The firm claimed an “important further step” towards institutionalisation with the proposed election of an independent, non-founder board member.
Following the floating of a minority interest at the SIX Swiss Exchange in 2006, external shareholders were first incorporated, with the three founders, Marcel Erni, Alfred Gantner and Urs Wietlisbach, gave up their controlling majority
Steffen Meister succeeded Alfred Gantner as CEO in 2005, taking over the operational management of the firm.
In 2013, André Frei and Christoph Rubeli, who have been with the firm for more than ten years each, were appointed as the next CEO generation, with Steffen Meister being elected to the board.
Wuffli’s appointment will lead and further develop the board while orchestrating Partners Group’s corporate governance, the firm said.
Partners saw a record $7.7bn invested in 2013, with investor commitments of over $5bn.
Gantner said, “True entrepreneurial success is achieved when a firm grows beyond its founders. Marcel, Urs and I take pride in what we have built over the last two decades together with our partners and colleagues around the globe and all three of us remain highly committed to Partners Group.
“I am strongly convinced that Peter Wuffli will succeed in his new role, not only based on his achievements in business but also because his personality fits our culture. After half a decade of close involvement in our business, he has gained a comprehensive knowledge of our industry and our firm.”
In the past year, Partners has made 86 direct investments in private market assets across the world, and the firm said it expects annual investment capacity to grow further to absorb an even larger and “steadily increasing opportunity set”.
It said, “As pension plans around the world shift their asset allocations to include more private markets investments in their search for yield, we expect client demand to continue to intensify. “
The firm has assets under management of €31bn and generated record revenues of CHF492m and EBITDA of CHF300m.
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