22nd May 2025 10:43
(Alliance News) - Petershill Partners PLC on Thursday said it continued to experience "steady" fund-raising activity in the first quarter of 2025 but cautioned the outlook for capital markets activity remains "unclear".
Petershill Partners is a London-based investment group operated by Goldman Sachs Asset Management that focuses on private equity and other private capital strategies.
The company said aggregate partner-firm assets under management rose 8.7% to USD339 billion in the quarter to March 31 from USD312 billion a year prior.
Aggregate fee-paying partner-firm AuM rose 4.0% year-on-year to USD234 billion from USD225 billion.
Organic gross fee-eligible AuM raised was USD7 billion for the quarter, compared to USD8 billion in the same quarter a year ago.
In the quarter, partner fee-related earnings fell 12% on-year to USD45 million, reflecting a 3.2% drop in net management and advisory fees to USD90 million and a 7.1% rise in partner fee-related expenses to USD45 million.
Partner distributable earnings were USD73 million, up 28% from last year.
"During the first three months of 2025, our partner-firms' continued to experience steady fund-raising activity with USD7 billion of gross fee eligible assets raised," the firm said in a statement.
Petershill reiterated 2025 guidance, although it cautioned "the outlook for capital markets activity and investor sentiment remains unclear," amid economic uncertainty.
For 2025, the company expects USD20 million to USD25 billion organic fee-eligible AuM raise and realisations of USD5 to USD10 billion in fee-paying AuM.
Shares in Petershill fell 2.3% to 211.00 pence each in London on Thursday morning.
By Jeremy Cutler, Alliance News reporter
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