Partners Grp E Share Price (PEY)

This research does not look very good for Partners Group

https://grizzlyreports.com/pghn/

Dartron, the company is not dual-listed, it is dual-quoted. It means you can choose to purchase the shares denominated in GBP or Euros, but the shares are traded on the same market (the LSE). 18 million Euros of additional buy-backs is pretty aggressive, I would say, and the board are definitely mindful that the current share price is upsetting long term shareholders, like me! I would like the company to realise all holdings and give me my money back. I've had enough of Partners and their perpetual BS (and high fees). I would also be open to changing to a different manager or a merger with NBPE or CTPE.

This is in addition to the residual EUR 1.6 million of capital allocated for share buybacks in October 2025 that has not been used to date.

Are they buying as many shares as they could be? (I dont know because this is dual listed), but if the price is falling it implies that the buy backs are not aggressive enough. Is it just another tactic to draw things out.

The depressed share price in combination with healthy realisation proceeds means that the market sees limited value in both the manager and private equity, despite the good news. If there is enough cash flow to extend the share buyback programme, the argument follows that there will be enough realisation momentum to return all capital to shareholders over time and close the company. I believe this will be an option currently being discussed by the board. Partners have taken high fees, but has failed to deliver commensurate performance. It's not good enough, and calling time is a valid option.

VERY VERY impressed with Peter McKellar, who takes his duties as chairman very seriously. Today he has had no reservations in pointing out that 5 year performance has been disappointing and for this reason the board is assessing options for value delivery to long term shareholders. The previous chairman, in my opinion, was not nearly as judicious. It's great to see a proper chairman at work, doing as he should, acting for shareholder interests.