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Petershill Partners PLC on Wednesday posted a maiden profit as a listed company, declaring a dividend and setting out plans for a share buyback.
The London-based spin-off from Goldman Sachs Group Inc is an investor in alternative asset managers. The company had its initial public offering on the London Stock Exchange in late September last year, raising $720 million.
Pretax profit for the period running from March 24 to December 31 was $260.5 million. Income was $137.5 million, while the positive change in fair value of investments was $234.0 million. Partner distributable earnings rose by 57% to $382 million from $243 million.
Petershill said it expects $40 billion of fee-paying assets under management to be raised by partners in private capital markets in 2022.
The firm will propose a final dividend of 2.6 cents per share to shareholders at the annual general meeting on May 24, it said, and plans to launch a share buyback of up to $50 million.
Petershill Partners shares were 3.4% higher at 273.48 pence each in London on Wednesday morning.
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