Partners Group Defends Valuations After Short Seller Report

A short seller has targeted Partners Group Holding AG, one of Europe’s largest alternative asset managers, joining a chorus of skepticism about values attributed to private market assets.

Grizzly Research said it was shorting the stock and alleged valuation inconsistencies in Partners’ evergreen funds, where it estimated as much as 40% of investments may be significantly mis-marked. Grizzly said it had identified discrepancies between reported valuations and underlying performance.

Read More: Partners Group Says Fundraising Strong Despite Market Stress

“Through financial gymnastics, Partners Group arrives at effective valuations that are sometimes more than twice as much as our independently ...