Partners Group Founder Calls Selloff a 'Massive Overreaction' as Redemption Caps and Short-Seller Attack Chop 30% Off Stock

Partners Group's stock has tumbled nearly 30% since the start of the year, pushing its relative strength index to an extreme 26.2 — a level that typically signals a deeply oversold market. Yet the selloff has only accelerated, with the share price slipping another 2% on Monday to around €767. In response, the company’s co-founder and management have purchased over CHF 20 million worth of shares, and Fredy Gantner has taken the unusual step of publicly lashing out at short-seller Grizzly Research.

In an interview with the SonntagsZeitung, Gantner described the slide as a "massive overreaction" and acknowledged the firm needs to "communicate better and more proactively." He dismissed Grizzly Research’s critical report as baseless, noting that Partners Group has already filed legal proceedings and rebutted the allegations. The co-founder also pointed to broader geopolitical uncertainty as an additional headwind, framing the situation as an industry-wide issue rather than a company-specific problem.

The turmoil stems from an ad-hoc announcement on June 4, 2026, revealing that the Global Value SICAV had received redemption requests of around 9.8% of its net asset value. A separate Delaware-domiciled vehicle saw buyback requests of about 6%. Because the SICAV’s quarterly liquidity cap is 5%, investors will not get their full requested amounts back. This triggered a one-day plunge of up to 16% last Wednesday and has stoked fears about the liquidity of Partners Group’s flagship Evergreen funds — a model also facing strain at peers such as Blackstone.

Should investors sell immediately? Or is it worth buying Partners Group?

Despite the turbulence, management maintains its 2026 gross new inflow forecast of $26–32 billion. However, it expects the Evergreen platform to reduce net AuM growth by 1 to 2 percentage points in the second half of 2026, with a similar drag projected for the full year 2027. The dividend outlook offers some support: analysts anticipate a payout of nearly CHF 48 per share, implying the highest dividend yield in the Swiss Market Index at current levels.

The next major test comes on July 15, 2026, when Partners Group will report its assets under management as of June 30 — the first hard data point since the crisis erupted. Half-year results are due on September 1. For the stock, which now trades 36% below its 52-week high of €1,213.50, a recovery will require convincing evidence that redemption requests remain contained and that promised inflows materialize. Until those numbers land, even Gantner’s impassioned defense and insider purchases may not be enough to reverse the downward momentum.

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