Alternative asset management firm Petershill Partners said on Tuesday that it made $458m in acquisitions in the fourth quarter, which are expected to be immediately accretive to consensus earnings forecasts.
The company, which was floated by Goldman Sachs last year, said the deals included four new investments including Arsenal Capital Partners, Wind Point Partners and the previously announced Symphony Technology Group. They also included a “follow-on” acquisition of additional equity in Industry Ventures.
The combined acquisitions contribute $20bn to aggregate partner-firm assets under management and $10bn to aggregate fee-paying AUM, it said.
The acquisitions are expected to be immediately accretive to consensus earnings forecasts, with the impact growing to around 9% accretive by 2023.
“The company expects to continue deploying capital into attractive partner-firms and to fund these opportunities through its own resources, leverage headroom and proceeds from the primary equity raise at IPO,” Petershill said.
