July 12, 2018 / 6:03 AM / 2 months ago

Partners Group posts 6.9 bln euros in first-half client demand

ZURICH, July 12 (Reuters) - Swiss asset manager Partners Group saw 6.2 billion euros ($7.24 billion) in gross client demand in the first six months of 2018, helping it confirm its full-year outlook.

Assets under management rose to 67.1 billion euros, the group said on Thursday, a 16 percent rise over the prior-year period.

"We continue to see a broad cross-section of client types seeking to further build out their exposure to private markets," Co-Chief Executive Andre Frei said in a statement.

"In the first half of the year, our client demand was spread across more than two dozen individual programs and mandates, with many of our more sizable clients requesting the creation of bespoke private markets portfolios, either through single or multi-asset class mandates."

Gross client demand was down from 6.9 billion euros a year ago. The group has topped expectations in the previous two semiannual reporting periods, helping its shares rise 26 percent over the past 12 months.

It reiterated on Thursday its full-year outlook for 11-14 billion euros in new client commitments. ($1 = 0.8562 euros) (Reporting by Brenna Hughes Neghaiwi; Editing by Subhranshu Sahu)

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