22nd Jul 2025 10:02
(Alliance News) - Petershill Partners PLC on Tuesday maintained its guidance for 2025 as it reported increased assets under management for the first half of the year.
Petershill Partners is a London-based investment group operated by Goldman Sachs Asset Management and focused on private equity and other private capital strategies.
It said aggregate partner-firm assets under management on June 30 were USD351 billion, up 3.5% from USD339 billion at the end of the prior quarter, and 6% higher compared to a year ago.
It said fee-paying partner-firm AuM was USD245 billion at the end of the period, up 4.7% from USD234 billion on March 31. It increased 3% from a year prior.
Petershill noted that the aggregate AuM and fee-paying AuM increases are inclusive of mergers and acquisitions during the period.
It said the organic gross fee-eligible AuM raise was USD12 billion in the second quarter and a total of USD19 billion for the first half of the year, which reflects the bringing forward of asset raising that was previously expected in the second half of the year.
It noted partner-firm realisations of USD3 billion of fee-paying AuM during the quarter and a total of USD6 billion in the first half of the year.
The investment performance of partner-firm funds led to an increase of USD1 billion in fee-paying partner-firm AuM during the quarter and for the first half of the year.
At the end of June, partner-firms had USD3 billion of AuM that were not yet paying fees, compared to USD4 billion at the end of the prior quarter.
Petershill said the impact of the disposal of its stake in Harvest Partners will reduce aggregate partner-firm AuM by 5.4% to USD332 billion on a pro-forma basis at the end of the quarter.
The company maintained its guidance for between USD20 billion and USD25 billion of organic fee-eligible AuM raise during 2025, with realisations between USD5 billion and USD10 billion in fee-paying AuM.
It expects full year partner fee related earnings between USD180 million and USD210 million for 2025, compared to USD186 million in 2024.
Petershill is also forecasting PRE of 15% to 30% of total partner revenues, with acquisitions above the medium-term range of between USD100 million and USD300 million per year.
The company also left its guidance for an adjusted earnings before interest and tax margin of between 85% and 90% unchanged.
Shares in Petershill Partners were down 0.4% at 238.50 pence in London on Tuesday morning.
By Michael Hennessey, Alliance News reporter
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