Trade Of The Week Partners Group

This report highlights an investment opportunity in Partners Group bonds following an excessive market reaction to fund gating measures. UBS maintains a stable credit view with an 'A' rating.

Key Takeaways

• 1.Partners Group (PG) reiterated FY26 guidance despite gating measures on some evergreen funds; demand remains strong.
• 2.PG bond prices have widened following gating announcements, which UBS views as an excessive market reaction.
• 3.UBS maintains an A rating with a Stable outlook for Partners Group, citing a healthy balance sheet.

Table of Contents

• Credit development: What happened?
• Investment idea: Which bonds to consider?
• Issuer description: Who is Partners Group?
• Additional risk statement
• Required disclosures
• 3-year Issuer rating history change
• Appendix

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