20th Jan 2023 09:22
(Alliance News) - Petershill Partners PLC on Friday said in 2022 it had a higher raise in fee-eligible assets under management than expected.
Petershill is an investment vehicle operated by Goldman Sachs Asset Management that invests in alternative asset managers. The company started trading on the London Stock Exchange in September 2021.
For 2022, the organic gross fee-eligible AuM raise was USD60 billion, 9.1% ahead of its USD55 billion guidance.
Its aggregate partner-firm AuM as at December 31 rose 21% to USD283 billion, from USD234 billion a year ago.
Petershill's aggregate fee-paying partner-firm AuM grew 23% over the same period to USD194 billion from USD158 billion.
The company said partner-firms had USD17 billion in AuM with no paying fees, but will pay fees in 2023.
Petershill estimates organic gross fee-eligible AuM raise of USD20 billion to USD25 billion in 2023 and anticipates realisations of USD5 billion to USD10 billion.
Petershill Partners shares rose 2.5% to 162.40 pence each on Friday morning in London.
By Tom Budszus, Alliance News reporter
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