Petershill Partners, a unit of Goldman Sachs, said on Monday that it is considering an initial public offering on the London Stock Exchange.
The investment group would become a standalone company operated by the Goldman Sachs Asset Management team that was founded in 2007 as the first minority stake acquirer in alternative asset managers, and that made and has managed the initial 19 investments in the portfolio.
As at 30 June, Petershill had aggregate partner-firm assets under management of $187bn.
Petershill said that if it goes ahead with the IPO, the sale of new shares would raise around $750m. The group would also sell existing shares. According to media reports, the listing would value Petershill at around $5bn.
Naguib Kheraj, non-executive chair of Petershill Partners, said: “Through a London listing, Petershill Partners would make available to public market institutional investors a unique opportunity to access stakes in a number of leading privately owned alternative asset managers.
“Goldman Sachs has been a pioneer and is a global leader in the specialised business of making minority investments in alternative asset managers. Through Petershill Partners, investors would benefit from the expertise of Goldman Sachs as its operator both in terms of managing the existing portfolio and developing opportunities to make additional future investments in this rapidly growing industry.”
