Partners Group Insiders Load Up on Shares as Infrastructure Spending Spree Reaches $2 Billion—Stock Still Down 32%

Board and executives purchase shares to show confidence despite 32% YTD drop, while firm deploys over half a billion in infrastructure deals amid redemption caps and short-seller pressure.

The board and executive team at Partners Group have spent over 60 million Swiss francs buying their own stock since late June, a move designed to reassure investors rattled by a 32% year-to-date slide in the share price. Yet the same period has seen the Swiss private-markets specialist plough more than half a billion dollars into infrastructure assets—highlighting a widening gap between management’s confidence and the market’s mood.

Insider buying after the June nadir

Since the stock touched a 2024 low of €686.80 on 30 June, members of both the board of directors and the executive board have been active buyers. The purchases, totalling more than CHF 60 million, are intended to signal faith in the long-term strategy. The shares closed Friday at €737.40, still more than 26% below their 200-day moving average, underscoring the persistent technical weakness.

A two-day, half-billion-dollar infrastructure push

Within 48 hours, the firm committed roughly £260 million (about €307 million) to acquire a UK passenger train leasing platform. Simultaneously, it invested $250 million in a global aircraft leasing portfolio spanning 69 separate projects. These deals push the group’s infrastructure secondary-market investments past the $2 billion mark over the past twelve months. The message to clients: the deal pipeline remains robust, and liquidity is ample enough to sustain aggressive deployment.

Redemption caps and short-seller heat

The show of force comes at a delicate moment. Earlier this year, Partners Group’s “Global Value SICAV” evergreen fund faced redemption requests that exceeded the contractual 5% quarterly cap, forcing management to limit payouts. That episode, coupled with a critical report from short seller Grizzly Research—which the company dismissed as defamatory—accelerated the stock’s decline. Retail investors, in particular, have grown nervous about access to their capital in the group’s private-market vehicles.

Guidance held, but July 15 looms

Despite the headwinds, Partners Group has maintained its full-year target for gross new money of at least $26 billion. The real test comes on 15 July, when the firm publishes its first-half update on assets under management. The figure will reveal how well the institutional core—which accounts for roughly 80% of client funds—has weathered the recent turbulence. If the data meets expectations, it could help the stock establish a floor; a miss risks a fresh test of the June lows. For now, the insider buying and infrastructure splurge have done little to shift the market’s bearish narrative.