21st Jul 2023 08:01
(Alliance News) - Petershill Partners PLC on Friday reported that partner assets under management increased in the second quarter and first half of 2023.
Petershill Partners is a London-based investment group focussed on private equity and other private capital strategies. It invests in 25 alternative asset management firms. Petershill is operated by Goldman Sachs Asset Management, having been spun off from Goldman Sachs Group Inc in 2021.
Petershill said aggregate partner-firm assets under management was USD300 billion on June 30, increasing 3.0% quarter-on-quarter, and 7.0% year-on-year.
Aggregate Fee-paying partner-firm AuM on June 30 was USD196 billion, rising 1.0% from the prior quarter, and 7.0% from the previous year.
The company had inflows of USD14.0 billion in its second quarter, and fee-paying inflows of USD1.0 billion in the same period. Realisations of were USD6.0 billion and USD1.0 billion, respectively.
In the first half as a whole, inflows were USD23 billion and fee-paying inflows USD3 billion. Realisations were USD10 billion and USD4 billion, respectively.
"Whilst the market environment for fund raising has softened, we maintain our full year guidance for organic gross fee-eligible AuM raise of USD20 to USD25 billion," said Petershill.
Petershill said that as of June 30, its partner-firms had USD28.0 billion of assets under management which was not yet paying fees, a 65% increase from USD17.0 billion it had on December 31.
Petershill Partners was trading at 165.00 pence in London on Thursday afternoon.
By Will Neill, Alliance News reporter
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