9 stories mentioning PGHN.SW
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Kepler Cheuvreux on Friday decreased the price target for private equity company Partners Group (PGHN.SW) to 875 francs from 1,255 francs, while keeping its buy rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Sadif Investment Analytics on Tuesday lowered its rating on private equity company Partners Group (PGHN.SW) to sell from hold.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Swiss shares started a new week in the red as traders digested fast-moving developments in the Middle East in the wake of new fighting between Iran and Israel.The Swiss Market Index closed 0.50% lower on Monday, following reports that Israel and Iran exchanged fire in yet another fresh bout of escalation in the region. US President Donald Trump called on both sides to "immediately stop 'shooting'" as Washington and Tehran continue to work on an extended ceasefire agreement."Both sides, Israel and Iran, are looking to do an immediate CEASEFIRE! Final negotiations on 'Peace' are proceeding, subject to ignorance or stupidity getting in its way," Trump posted on Truth Social. Following Trump's post, media reports indicated that Iran has ended its strikes against Israel, but warned that it would strike again if attacks on Lebanon resume.On the corporate front, Roche (RO.SW) signed an exclusive licensing and collaboration deal with Nasdaq-listed Nurix Therapeutics to jointly develop and commercialize bexobrutideg, an investigational treatment for people living with B-cell malignancies. Nurix will receive an upfront cash payment of $700 million and will be eligible for milestone payments of up to $2.3 billion. The Swiss drugmaker fell 1.02%.Meanwhile, Partners Group (PGHN.SW) co-founder Alfred Gantner told Swiss Sunday paper SonntagsZeitung that last week's drop in the alternative asset manager's share price was a "massive overreaction" to the company's decision to cap withdrawals at certain evergreen funds. The private equity group was up 0.31%.Outside the blue chip, AlphaValue/Baader Europe raised its price target on peptides and oligonucleotides manufacturer Bachem (BANB.SW) to 79.6 francs from 78.3 francs following "minor changes" to earnings estimates ahead of the company's first-half results on July 30."Bachem is recruiting ahead of production output growth, compressing near-term margins while there are no recorded sales for the building. Production should start at the end of 1H despite no sales being recorded. Depreciation is revised upward to 8.5% of total sales for 2026, with depreciation normalising afterwards as a % of sales. Increased depreciation offsets the downward EBIT revision, but does not offset the subsequent earnings drop. As a result, EPS is revised slightly downward," the research firm said. Bachem declined 0.15%.It is a quiet week for economic data, with no major indicators scheduled until June 15.
The Swiss Market Index recovered from the previous day's losses, closing Thursday trading 0.93% higher, as inflation remained unchanged ahead of the Swiss National Bank's (SNBN.SW) rate decision on June 18.Switzerland's annual inflation rate was stable at 0.6% in May 2026, data from the Federal Statistical Office showed, below the consensus estimate of 0.8%. The latest reading marks the fastest rise since December 2024. On a monthly basis, consumer prices rose 0.2%, compared with the previous and expected growth of 0.3%, amid increasing housing rentals and prices in the hotel sector.In other economic news, the country's non-seasonally adjusted unemployment rate held steady at 3% in May, while the seasonally adjusted figure edged up to 3.1% from 3% in April, according to the State Secretariat for Economic Affairs.On the corporate front, Partners Group (PGHN.SW) expects growth in overall net assets under management to be slowed by its evergreen platform by 1% to 2% in the second half of 2026 amid "a period of heightened volatility" across open-ended evergreen fund flows. The private equity group, which gained 3.73%, also forecasts a similar effect for net overall AUM growth in full-year 2027."Partners Group has consistently communicated to clients and market participants that its evergreen vehicles are typically equipped with liquidity limits of up to 5% of [net asset value] per quarter, and that these limits would be enacted whenever redemption activity reached the designed threshold. As a result, [Partners Group Global Value SICAV] will operate the 5% quarterly liquidity limitation. The firm is prepared to enact the respective liquidity limitation mechanism across other funds," the company said.In geopolitical news, the US Department of State said Israel and Lebanon agreed to implement a ceasefire, contingent on a "complete cessation" of attacks by the Iran-backed armed group Hezbollah, among other conditions. However, a Reuters report later indicated Hezbollah has rejected the proposed ceasefire framework, while Israel signaled it does not plan to withdraw troops under the current terms.
Partners Group (PGHN.SW) capped withdrawals from one of its evergreen funds and warned it could impose similar limits on its other funds as heightened volatility leads to a surge in redemption requests.In a market update released Thursday, the Swiss alternative asset manager said it had capped withdrawals from its Luxembourg-domiciled Global Value Sicav fund at 5% of net asset value per quarter following elevated redemption activity in the second quarter. Redemption requests reached 9.8% of NAV during the period.The firm attributed the increase in withdrawals to heightened volatility in open-ended evergreen fund flows, a trend that first emerged in private credit vehicles before more recently spreading to private equity. Partners noted that repurchase requests for a Delaware, US-domiciled private equity evergreen vehicle will be slightly above the company's threshold of 5% of NAV.Partners Group shares dropped more than 16% on Wednesday, when news of the redemption cap first broke. The stock has since rebounded and was up nearly 4% early Thursday.Amid rising redemption requests from investors, the company is also preparing to introduce withdrawal limits for its US-focused Private Equity Master Fund in the "coming weeks," London's Financial Times reported the same day, citing unnamed sources."Partners Group has consistently communicated to clients and market participants that its evergreen vehicles are typically equipped with liquidity limits of up to 5% of NAV per quarter, and that these limits would be enacted whenever redemption activity reached the designed threshold," the company said. "As a result, GV SICAV will operate the 5% quarterly liquidity limitation. The firm is prepared to enact the respective liquidity limitation mechanism across other funds."The company expects net assets under management growth to be 1% to 2% slower in the second half of 2026 due to the impact of the evergreen funds, with a similar effect anticipated in full-year 2027.
The Swiss Market Index ended Wednesday trading 0.66% lower after the US and Iran exchanged fresh strikes overnight, dampening investor sentiment and casting doubt on the prospects for a temporary peace deal.The US Central Command said US forces launched "self-defense strikes" on Qeshm Island in the Strait of Hormuz "in response to attempted attacks by Iran across the Middle East." It added that Tehran fired missiles at Kuwait and Bahrain, which broke apart or were immediately intercepted. Meanwhile, Iran's foreign ministry "strongly condemned" the US attack on the Iranian tanker and Qeshm, Bloomberg News reported.In trade news, Switzerland is one of the 60 countries facing additional US tariffs following an investigation into imports of goods allegedly made with forced labor. The proposed additional duties range from 10% to 12.5%."[The] results of this investigation indicate that the acts, policies and practices of Switzerland related to the failure to impose and effectively enforce a forced labor import prohibition are unreasonable and burden or restrict U.S. commerce," according to a report by the US Trade Representative.On the corporate front, Partners Group (PGHN.SW) is limiting withdrawals at its $8.6 billion Global Value SICAV fund to 5% of net asset value per quarter, following a surge in redemption requests in the second quarter, Bloomberg News reported, citing a letter to investors it saw. The private equity firm sank 16.33% at close.Meanwhile, Nestlé (NESN.SW), which owns a 49% stake in yfood Labs, agreed to buy the remaining stake in the smart food brand from its founders for an undisclosed sum. The share transfer is expected July 3, subject to customary approvals. The food and beverage giant was down 0.62%.The Swiss government is due to release inflation and labor data on Thursday.
Swiss shares dropped alongside European peers on Thursday, with the Swiss Market Index closing 0.90% lower, as a fresh escalation in tensions between the US and Iran weighed on investor sentiment.US forces struck down Iranian drones in a fresh bout of fighting along the Strait of Hormuz, prompting retaliation from Tehran despite a ceasefire agreement remaining in place. US President Donald Trump said earlier that the strait is "going to be open to everybody" and suggested that the military "go back and finish it."Among the biggest decliners in the blue-chip index were Partners Group (PGHN.SW), Swiss Life (SLHN.SW) and Alcon (ALC.SW), which fell 2.46%, 2.41% and 1.97%, respectively.Meanwhile, Galenica (GALE.SW) reported sales growth of 7.3% to 1.41 billion francs in the first four months of 2026, driven by strong performance in its pharmacy and wholesale businesses. The company confirmed its 2026 guidance, including sales growth of 5% to 7%. The stock was down 0.66% at close.On the economic data front, data from the Federal Statistical Office showed nonfarm payrolls growing 0.5% annually in the first quarter, compared with a 0.2% uptick in the previous three months.KOF leading indicators are scheduled for release on Friday.
The Swiss Market Index gained 0.35% on Thursday's close, extending its winning streak, as investors assessed the latest industrial production data and corporate updates.The country's industrial production, adjusted for calendar effects, declined 7.1% year over year in the first quarter, following a revised 0.4% fall in the previous three-month period, data from the Federal Statistical Office showed. Analysts expected a 0.5% rise for the month.Elsewhere and in geopolitical news, Iran said the latest US proposal has partly narrowed differences as both sides seek to turn a fragile ceasefire into a broader peace deal. Tehran, which is reviewing a response to Washington's text, said further progress would require an end to US "temptation for war," while reiterating calls for a full halt to hostilities and the unfreezing of sanctioned assets, Bloomberg News reported.Back home and on the corporate front, Swiss Life Holding (SLHN.SW) posted higher fee income and premiums for the first quarter, while announcing the purchase of Germany-based Telis Group with 1,800 certified advisers. The Swiss life insurer, which was up 0.75% at close, expects to close the deal in the third quarter."We achieved pleasing top-line growth in the first quarter of 2026 and further increased both the fee and the insurance business," Swiss Life Group Chief Executive Officer Matthias Aellig said. "I am particularly pleased with the growth in our fee business across all divisions. With our performance in the first quarter of 2026, we are well on track with the 'Swiss Life 2027' programme."Meanwhile, dsm-firmenich (DSFIR.SW) gained 6.42% at the end of its first trading day on SIX Swiss Exchange. The nutrition, health and beauty company, which is also listed on Euronext Amsterdam, said the dual listing does not include a new share issue and will not impact its capital structure.In other news, Partners Group Holding (PGHN.SW) launched its new control private equity strategy, called Total Return Strategy, focused on lower leverage, income-generating investments. The Swiss private equity firm, which fell 1.06%, said the strategy aims for mid-teens total gross returns and an initial gross annual dividend yield of 5% to 8%.
Swiss stocks staged a recovery on Friday, with the Swiss Market Index closing 1.92% in the green, amid fresh hopes that war in the Middle East will soon reach a resolution.Iran's foreign minister declared on X that the Strait of Hormuz is "completely open" for passage of all commercial vessels "for the remaining period of ceasefire," in line with the 10-day ceasefire agreement between Lebanon and Israel that is now in effect. Meanwhile, President Donald Trump said on the Truth Social platform the US naval blockade of Iranian ports will continue "until such time as our transaction with Iran is 100%."Back home, Switzerland signed an investment protection agreement with Bahrain on the sidelines of the World Bank Group and International Monetary Fund spring meetings in the US. The agreement will take effect following completion of internal approval procedures in both countries.Over to corporates, Berenberg increased its price target for VAT Group (VACN.SW) to 480 francs from 466 francs, with an unchanged hold rating on the stock, noting that underlying demand "continues to run hot." The Swiss vacuum valves maker's order intake reached 356 million francs in the first quarter, although deliveries were affected by disruptions caused by the Middle East war. The stock gained 6.09% at closing."Following its Q1 update, VAT struck a confident tone, reiterating that it feels comfortable with around CHF1.3bn of full-year consensus sales. However, the implied trajectory is anything but conservative. Based on Q2 guidance of CHF265m-295m, the setup clearly points to a back-end-loaded year, with a strong H2 required to bridge the gap," the research firm said in a note. "In our view, this guidance effectively assumes that production ramps, supply chains and customer deliveries all run without friction, which we consider to be a high bar in an environment that still lacks full visibility."Partners Group (PGHN.SW) also closed the session 3.38% higher as it concluded its eighth private equity secondaries program, securing more than $9 billion of total commitments from clients. The Swiss private equity giant's program is 60% committed, with a highly diversified investor base, including institutional investors across Europe, Asia-Pacific and the US.