This news service understands that, contrary to a recent media report, the family office of Partners Group founders is not being split.

The PG3 family office of Switzerland's Partners Group founders is not being split, and no separate entity is being carved out by co-founder Urs Wietlisbach, WealthBriefing understands from those familiar with the situation, following a recent media report.

A Bloomberg report on 14 June said Wietlisbach was "carving out an independent unit within the family office that's managed their fortunes for over a decade," describing it as an "early sign of the executive's succession planning." Wietlisbach, with co-founders Alfred Gantner and Marcel Erni, founded Partners Group in 1996 and established the PG3 family office in 2013.

WealthBriefing understands that no founder is splitting the family office, and that PG3 remains the single shared platform managing the wealth of the founder families. The arrangement is not, this publication understands, a first step away from the shared structure in place since 2013.

Bloomberg reported that the unit would be led by Jascha Forster, currently chief investment officer of Thomas Schmidheiny's family office, Spectrum Value Management. WB understands that with Forster's arrival PG3's service model will be expanded, adding dedicated capacity for the individual founder families within the existing structure, rather than marking a structural break. The shared multi-strategy platform is unchanged.

A shareholder agreement is being prepared, this publication understands, but it is forward-looking governance for succession and the next generation, consistent with how the founders have aligned over roughly 30 years. Sources indicated that there is no rift between them.

PG3 was established in 2013 to hold part of the founders' wealth in non-correlated assets, namely insurance finance, legal finance and royalties. WB understands that, far from stepping away from Partners Group, the founders remain deeply committed to the firm, the opposite of what the report implied.

Bloomberg also reported that Wietlisbach is "seeking independence over individual investments." However, this news service understands that individual investments have always sat alongside the shared strategies as a small and stable share of the founders' portfolios, unchanged since 2013 and still managed or advised by PG3.

PG3 is a multi-strategy platform built on three core strategies, insurance finance, legal finance and royalty finance, in which the founders remain by far the largest investors. Their asset allocation and shared, aligned structure continue as before, with a long-term commitment to the strategies and to Partners Group intact.